I read and interesting article - It confirms my thoughts

Over the past year or so the interest rates have been incredible. So why are consumers not buying homes? It's real simple, they are scared. They think the prices and the interest rates are still going to go down. One of the things we have done to educate our buyers is our buyers presentation. If you haven't read it yet, that and our sellers presentation are both online. I'm a big believer in education marketing. Anyways....

So let's think of what is going to happen over the next year. Interest rates, in my opinion and many economists, have bottomed and are on the rise. Last month Interest rates were as low as 4.25%. It doesn't get much lower than that. Today they were at 4.75%. My belief is the buyers will start coming out once we go over 5%. Unfortunately, because of the media and other negative reports flying around, most consumers are going to lose out. It's important that you educate your buyers on how this is going to affect their future purchase. We all know that 1% in interest rate can be hundreds of dollars per month in less buying power.

My fear for all our consumers is that they are going to miss the boat. This is an amazing opportunity for people that want to buy a home. It's our job, as Realtors, to do as much as we can to get our buyers to understand this. Today we sent out an article written by Florida Realtors that described what is going on. You can check it out by going to:

http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=251419

Take the time to educate your buyer. I know they think we are all car salesmen or saleswomen trying to get them to buy a home so we can earn commission. I know most of us are honest, ethical hard working people trying to help people buy a home. Send them this article. Tell them not to miss the boat. 1% in their mortgage rate will cost your customers hundreds of dollars.

I have always believed that when the interest rates starting going up, the buyers will come out. The time is now. Good luck!