January 24, 2012 Mortgage rates are at a record low putting tremendous pressure on pricing .(2.99%) New First Time Buyers are stretching to get preapproved. There was a time a small condo was $ 150 M now first time buyers are looking more often than not in the low 200's. ( Hamilton Burlington Market) As in the past I stress people to look at their whole mortgage and not get tricked on these rates where many rates that are low have HIGH PENALTY FEES. Realtors are embracing the internet to extremes. Many including myself are relying on syndication to distribute listings to maximize exposure. Staging has become the required method to get top dollar. Our inventorys are at a all time low. ( in my 11 years I have never seen them this low) People are asking when is the bubble popping ? Its like everyone knows it will come one day but when. ???? Interest rates do have to go up and they would not have to go up much to slow things down quickly. One or two Percent would have a significant impact.The government is predicting they will be staying low for quite some time. There has been hardly any snow so far and we have had a easy January. Media reports consumers have been restraining excessive spending and many are starting to pay down debt. Which is a good thing. The market is still very active and yes bidding wars are still happening out there. Any inquiry on mortgage specials, preapprovals or general real estate questions you can email anytime carl@carlstars.com. Carl