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Update for the week of July 13th

The competition out there for properties in the $375,000 - $450,000 continues to be fierce. The "perfect storm" of low supply, low interest rates, and a lot of first time home buyers, has lead to frequent multiple offer situations. What makes matters worse for those potential buyers, is the fact that most of the 90 day, sub 4% rate holds will be expiring between the end of August and the end of September. This time crunch has stressed the situation, and unless you are serious about finding a place, the condo hunt in this price range will be tough. 

Tip: Don't forget, when making an offer, always consider when your current mortgage rate hold is good until. If you don't pay attention to this and you complete on the property after your rate hold expires, the rate hold is no longer an option. In order to capitalize on a rate hold, you must complete on the property during that 90 day time frame. 

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