Why are interest rates so high?...Like 420 high!

It's no secret that interest rates in the real estate market are currently quite high. With rates hovering around 7.50%, many buyers and sellers are wondering why they are so elevated. In this article, we'll explore why interest rates have reached this level and what factors have contributed to this upward trend. Firstly, it's important to understand that interest rates are tied to the economy as a whole. When the economy is strong and growing, interest rates tend to increase. Conversely, when the economy is in a recession or experiencing slower growth, interest rates typically decrease. Currently, the economy is experiencing contraction, and runaway inflation which has contributed to the rising interest rates. Another factor that has contributed to high-interest rates is the Federal Reserve's monetary policy. The Federal Reserve has gradually increased interest rates in an effort to control inflation and stabilize the economy. This has had a direct impact on mortgage rates, causing them to rise as well. Rates are on a 20 year high run with talk of further hikes! YIKES!  In addition to these factors, geopolitical events and global economic trends can also impact interest rates. For example, a sudden increase in oil prices or tensions between world powers can cause interest rates to rise as investors seek safer investments. So, why are interest rates currently so high in the real estate market? The answer lies in a combination of factors, including the strong economy (so they say), Federal Reserve policy, and supply and demand dynamics. While high-interest rates can be a challenge for buyers and sellers, it's important to remember that they are a reflection of a growing economy and a stable market. In conclusion, high rates are here to stay for The foreseeable future. Until we can get this runaway inflation down to a manageable level, around 2%, they will continue to raise rates. I believe rates will stay the same for the next year until we get into the middle of the election cycle. We usually see monetary policy changing within an election period. Stay tuned!

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Investing in the Future: Rare Residential Development Opportunity in McMinnville

If you're looking for a prime real estate investment opportunity, McMinnville may have just what you're after. A rare and highly desirable residential development property has come onto the market, offering a chance to invest in a growing community with plenty of potential. Located on NE Newby ST, this 2.93-acre parcel of land is zoned R-3 and is already cleared and ready for development. All utilities are in place, abutting the site, and the property is being sold as-is, with the buyer responsible for conducting their own due diligence. This is a unique opportunity to invest in a sought-after area, with McMinnville experiencing steady population growth and a thriving local economy. The city is known for its wine industry, which has helped to attract a diverse range of businesses and residents to the area. As a result, McMinnville has a strong job market, with opportunities in retail, healthcare, education, and tech. In addition to its economic strengths, McMinnville is a vibrant and welcoming community, with a wide range of amenities and attractions. The area is known for its natural beauty, with a number of parks, hiking trails, and outdoor recreation opportunities available. The city also has a strong arts and culture scene, with regular events, festivals, and performances. For investors looking to capitalize on this potential, this residential development property offers an excellent opportunity. With the land already cleared and utilities in place, the property is poised for development, and the R-3 zoning offers plenty of flexibility for a range of residential options. As the listing agent is a member of the seller, interested buyers can rest assured that they will have access to all the information and resources they need to make an informed decision. And with McMinnville's strong economic and community foundations, investing in this property could provide a solid return on investment for years to come. Overall, this rare residential development opportunity in McMinnville is a chance to invest in the future of a growing and thriving community. With all the groundwork already laid, interested buyers can step in and take advantage of this unique real estate listing to build something truly exceptional.

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