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Jim Silva is one of the best real estate agents I’ve ever worked with. I’m a retired Coldwell Banker agent in Colorado and have sold hundreds of homes and worked with many agents.
We went to Illinois to prepare my sister’s home I. sleepy Hollow so it could be sold. From our first interaction with Jim to the closing, we experienced his enthusiasm, hard work and dedication. Jim was, without a doubt, head and shoulders above the crowd in terms of professionalism, dedication and ethics. Jim went beyond our expectations. He is a credit to the real estate profession.
Jim sold my sister’s home in 5 days!
I highly recommend Jim Silva for any of your real estate needs.Diane Mikitson
Posted on December 5, 2014 - 04:34 PM
by Jim Silva
There are some who are calling for a substantial drop in home prices should mortgage interest rates begin to rise rapidly. Intuitively that makes sense. The cost of a home is determined by the price of the home and the price of financing that home. If mortgage interest rates increase, less people will be able to buy. The logic says prices will fall if demand decreases.
However, history shows us that this has not been the case the last four times mortgage interest rates dramatically increased.
Here is a graph showing what actually did happen:
We will have to wait and see what happens as we move forward. But, a fall in prices should rates go up is not guaranteed.