With October's real estate market update, Realtors® like myself are seeing home prices take a slight dip, which is something homebuyers will be interested in. You'll also remember that we mentioned interest rates might be on the rise as early as the beginning of 2015, so it continues to stay true that now is the time to buy or sell.

Higher interest rates can have a negative impact on home affordability. They can slow down price increases for sellers while reducing the amount of money a buyer has to spend due to these higher interest payments. Current interest rates are still at historic lows, making it the perfect time to get in the Central Florida real estate market, whether as a buyer or a seller.

We've all watched House Hunters on HGTV. Homebuyers (sometimes in it for the first time) are shown three houses, each one fitting their needs in one way or another, but not having quite everything on their wish list. Then they sit down, usually in some quaint little coffee shop, and talk over the pros and cons of each property and just minutes later have picked the house for them. 

We have all heard the adage, “location, location, location” when it comes to buying a new home. And, although location is and will always be extremely important, a homebuyer should really be thinking “interest rates, interest rates, interest rates”.