HouseTalk: March 22 - Why Rochester Home Buyers Should Act Before Interest Rates Drop This Spring

Rochester real estate broker Jeff Scofield makes a counterintuitive case: the moment buyers have been waiting for — lower interest rates — will actually make buying a home harder, not easier. With only 0.3 months of housing supply in Monroe County and homes selling in 8 days at 111.9% of list price, Rochester is already one of the tightest markets in the country. When rates finally drop, a surge of buyers will pile into the same constrained inventory. Jeff's advice: buy now at 6.37%, lock in your price, and refinance in a few months.

Jeff also explains why the Fed held rates at 3.5–3.75% on March 18 — the Iran-Israel war pushed oil past $112 a barrel, keeping inflation pressure alive — and what that means for Rochester buyers planning their timeline.

Attorney John Marchioni joins to break down a significant change to Monroe County Bar Association and GRAR contracts. New language now gives buyer's agents explicit legal standing to pursue their earned commission directly from sellers who back out of a deal — no more expensive specific performance lawsuits that cost $5–20k and drag on for years.

The show closes on buyer love letters: why they create Fair Housing liability, what NAR says about them, and why Jeff draws a hard line on the practice.

Topics covered:

• Rochester ranked #2 best housing market in the US for 2026 (Realtor.com)

• 0.3 months supply — down 54.59% year-over-year

• Why the buy-now-refinance-later strategy works in this market

• The Iran-Israel war, $112 Brent crude, and the Fed's March 18 hold

• New GRAR and Monroe County Bar contract changes for 2026

• Agent commission rights when sellers breach

• Buyer love letters and Fair Housing law in New York

HouseTalk with Jeff Scofield Real Estate airs every Saturday morning on WHAM 1180 AM, Rochester NY. Call (585) 370-1000 or visit jeffscofield.com.