Mark’s Market Update – 2/17/2022
Mortgage rates have taken a brief pause on the inexorable march upward. Conventional and FHA/VA 30 Year Fixed-rate mortgages are hovering around 4.0% to 4.25%, while 15-year rates are roughly about .5% lower.
So – interesting question – do you buy a car by the pound? Of course not. But, using that logic – why do people focus on cost-per-foot when it comes to how much they’re willing to pay for Real Estate?
Watch the video to learn more about how cost-per-foot should be used (and how it is oftentimes misused – oftentimes to the detriment of the buyer or seller) in a market like the one we’re dealing with today.
There’s a way to use cost-per-foot effectively…
Cheers!