Apple Valley Ohio Lake Community by Sam Miller


Buying A Home While Interest Rates Are Low

Yesterday was the largest single day interest rate reduction the Fed's have made since roughly 1984.  The 30 year mortgage rates dropped much faster than I expected they would and in our small community the banks reacted very quickly.  For those of you who live in smaller communities know that the local community banks often times have challenges competing with the bigger national banks but the service from the smaller home town banks generally outshine the big banks. 

I have been in the real estate business for more than 20 years and the recent interest rate reduction has really enhanced the affordability of home ownership.  I look back when I got into the real estate business back in 1986 when the interest rates were 11.5% for a year fixed and I compare that market to today and as real estate agents we really don't have it that bad.  Back in the 1980's there was no ZERO down loans other than FHA and the 5% down loans had such tight qualifying guidelines that only the client who had a killer job and lots of cash could generally get a 95% LTV.  My point is that the market has a lot to do with our attiitudes and how we react to the market and the media.

I put a quick little unedited video together that might help give some of the real estate community a slightly different view of the housing market and why today truly is a great time to buy a home.  If enough of us spread the word that the market is full of buying opportunities together maybe we can make a difference.

Comment balloon 9 commentsSam Miller • January 23 2008 09:53PM


I know I'm refinancing both of my homes soon.
Posted by Michael Creel (InActive Agent) over 12 years ago

Michael, I am with you on the refinancing especially with the rates being so darn low. 

Now is the for a buyer to purchase their first home, sell a current home and upgrade into something either larger or nicer, refinance your current home and reduce the term of your mortgage or refinance a current home and pull some cash out and buy some investment propertys on fixed rate mortgages. 

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 12 years ago
You are so right!  We need to spread the good news to our clients and contacts.  The public is frightened and the unfavorable economy reports, 4 times a day, do not help.  Now, if the price of gas would come down, oil, too, we would be in good shape.  I hope that the interest rate drop makes people who are financially strapped, pay attention and improve their situation. 
Posted by Frances C. Rokicki, Broker-Mentor,CRS (Fran Rokicki Realty, LLC) over 12 years ago

Frances, Your comments are 100% on target.  We as a Realtor community need to get the word out about the buying and investing opportunity immediately and the more of us who do this the more it will benefit everyonel.  It truly is an ideal time to buy based on interest rates, current values and pricing and the selection and inventory is amazing.

Feel free to use the YouTube link and I also created a Quicktime file on the main page of my personal website that features the "Buying A Home Today" video and it can be seen here

Embedded link if you would like to paste the video into a blog or webpage.  You can cut and paste the embedded link below:

<object width="425" height="355"><param name="movie" value=""></param><param name="wmode" value="transparent"></param><embed src="" type="application/x-shockwave-flash" wmode="transparent" width="425" height="355"></embed></object>

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 12 years ago

SAm It is awesomne


We are going to work on doing this on our active rain blog!


Have a great time at CRS in Hawaii!!

Posted by Joe Jackson, Clintonville and Central Ohio Real Estate Expert (Keller Williams Capital Partners Realty) over 12 years ago

Thanks Joe,  I am looking forward to CRS Sellabration.  I use the event to meet and brainstorm with other top agents and the referral opportunities are always great.

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 12 years ago

I took this video concept to another level and for roughly 2 weeks I placed it on the main page of my website as a public announcement type message.  I didn't use YouTube for the main page and actually hosted it directly on my site and we have picked up 5 legit "A" quality buyers and a handful of B and C buyers.  We will be keeping the video on the main page of the site for a bit longer but this week we will be bringing back the featured listings and we will move the video player down the page a bit.  If you haven't done an online video talking about your market I highly recommend giving it a try.

If you want to check it out visit or

Happy Selling!

Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 12 years ago
Excellent advice. If prospective buyers are qualified, they should consider taking advantage of the current low rates.
Posted by DDR Realty, Orange County NY (DDR Realty) over 12 years ago
Derrick - Exactly.  If buyers pass up the buying oppertunity today they will look back on this time and kick themselves for not taking advantage of the current market and the extremely low interest rates.
Posted by Sam Miller, Knox County Ohio Real Estate Specialist (RE/MAX Stars Realty) over 12 years ago

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