Record-Low Interest Rates, Great Prices and Spring. What Does It All Mean? "Our Busiest Time of Year," says Gateway Realtors GMAC Real Estate

Brookfield Residential Property Services, which bought the GMAC Real Estate franchise in late 2008, is adding to renewed optimism.

With the spring home-buying season in full swing and record-low interest rates and a decent inventory of homes for sale luring buyers off the fence, real estate professionals in Hasbrouck Heights are busier than they’ve been in many months according to Martin Courtney of Gateway Realtors GMAC Real Estate based in Hasbrouck Heights.

“We’re definitely seeing an uptick in the Hasbrouck Heights real estate market,” said Courtney. “Spring is definitely upon us. This is typically our busiest time of year, but the renewed interest in homes for sale this year has been a pleasant surprise.”

Courtney said Gateway Realtors GMAC Real Estate is “definitely seeing more interest from first-time buyers thanks to the new federal tax incentives, combined with interest rates that are currently at or even below five percent for a 30-year fixed-rate mortgage,” the lowest in decades and a full two percentage points lower than August of last year.

Further adding to Gateway Realtors GMAC Real Estate's optimistic outlook is a new owner: Brookfield Residential Property Services. The well-respected firm purchased the GMAC Real Estate franchise company in late 2008, and Courtney said Brookfield’s commitment to ensuring local companies’ growth and success has invigorated the team. “The strong support and partnership we’ve enjoyed from Brookfield really has given us reason for excitement and optimism moving forward,” said Courtney.

“What many people still don’t seem to realize is that right now, more than any time in recent memory, could be that once-in-a-lifetime opportunity to buy their dream home,” said Courtney. “It has been decades since mortgage rates have been this favorable, prices this affordable, and inventory this available. Add to that the new tax credits and incentives offered by the federal government, and the reasons to stop renting and buy—or to move up to that bigger home—are incredibly compelling.”