The low interest rate has made the real estate market a jungle. For some reason people think they are getting a great buy because of the low interest rate and pay 100,000 or more for a overpriced property with multipal bids and auctions. Realtors who don't co-broke so they can keep the full commission and limit the exposure and sellers are not aware of it. Buyers who walk around with their bankbooks in their pockets to convince seller's to sell to them. Buyers who interupt attorney review or accepted offers to stop the sale.
Contractors and investors that flip properties for their own greed and not give a chance to a real buyer. Contracts that have harsh demands and severe penalties. Properties that are sold as is that needs major repair and sellers command top dollar and they never even picked up a paint brush. People are fighting for greed in the real estate and ending up in court all because of the low interest rate.
If you calculate the savings in interest rate for a 30 year mortgage and the overpriced property that seller demands, you actually are not saving anything.
Being a seller in today's market is financially rewarding, the good news is a seller eventually has to become a buye
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