Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Jeff Johnston
Pacific Union GMAC Real Estate
800 DeLong Avenue, Suite 201, Novato, CA 94945
189 Sir Francis Drake Blvd., Greenbrae, CA 94904
Direct: 415-860-1801
Email: jeffj4re@comcast.net
Email: jeffjohnston@NUMBER1EXPERT.com

30 years after selecting real estate as his career, Jeff has earned a reputation as one of Marin's most respected Realtors, by not only his clients, but also his peers. In 2007 Jeff was nominated and elected to serve a three year term on the Marin Association of Realtors Board of Directors. In addition to serving all of Marin County, Jeff works with clients in two other North Bay Counties, Sonoma and Napa. To better serve all of his clients, Jeff works from two of Pacific Union's offices, Novato to the north and Greenbrae to the south. Jeff began his career in 1978, and just 3 years later obtained his California Broker's License. Since the early 1980's Jeff has consistently been among Marin County's Top Producing Agents. "The Realty Alliance", an Association of the largest residential real estate brokers in America, have presented Jeff with their National Sales Award for the past ten consecutive years. This award is for "recognition of exceptional performance as one of the leading residential real estate sales professionals in America." On at least 4 occasions Jeff has been asked to speak at the Marin Association of Realtors General Membership Meetings to share his secrets of success. With his level of experience, Jeff views himself as a consultant and advocate for his clients, and not so much a sales person. "With 30 years under my belt, I know I can be a great resource for buyers and sellers, and give them unparalleled service. I treat my clients with the respect and consideration I would want to be treated with." A bit of a fitness buff, Jeff is a former marathon runner turned cyclist. He completed 8 marathons dating back to the late 1970's and early 1980's including Boston (1980), Oakland (1980, 2nd place overall), and the Pacific Sun-Marin County (1981, 1st place overall). Based on his performance at Oakland in 1980, Jeff qualified for the Olympic Trials. In recent years Jeff has completed 5 century rides (100 miles or greater), including the grueling Death Ride (Tour of the California Alps) in July of 2006. While training for a century ride at Lake Tahoe, Jeff was the leading fundraiser for his "Team In Training" cycling team, benefiting the Leukemia & Lymphoma Society. Jeff resides in Novato, CA with his wife Christine and their two daughters, Grace (6) and Kathryn (8). Jeff has three other children he dearly loves, Kenny (17), Ryan (20) and Holly (21).

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