HIGHER INTEREST RATES AHEAD

Expect interest rates to climb this spring resulting from the Federal Reserve stopping the purchase of mortgage-backed securities. Although it's projected the increment shouldn't exceed 3 10ths of a point, usually rising mortgage rates drive more buyer activity. The Grove is flat in pending and closed sales right now, in addition to few new listings. I'm surprised that still, most of the luxury properties coming on the market are over-priced.