Continued low interest rates forecast
QUESTION: Will home loan interest rates go up or down during the fall months?
ANSWER: Here's the opinion of Robert Barr, director of forecasting for the National Association of Realtors:
"With the inflation scare now behind us and with the Federal Reserve Board concerned with keeping the lid on inflation, interest rates will likely continue their slow drop for the rest of this year."
Ask broker to provide names of past clients
Q: When considering the selection of a broker when looking for a home to purchase, is it proper to ask for names and phone numbers of several people for whom he recently found a home -- and then call those people for a recommendation?
A: It's very proper and wise. In many cases, a broker may be reluctant to reveal this information, being unsure just what those past clients might say. But if a broker is consistently productive in his or her professional service and maintains good communications with clients, the broker will be glad to provide a list. It's just good business.
One broker, Ford Laurin, makes it a practice to give prospective clients a list of buyers for whom he has found a home over the past couple of years, with their phone numbers and addresses of homes.
(Send questions to James M. Woodard, Copley News Service P.O. Box 190, San Diego, Calif. 92112-0190.)