How buyers and sellers can both succeed in today’s housing market.
Today, we’re here to discuss the opportunities that are present in our current real estate market. Lately, we’ve seen a lot of sellers overprice their homes due to the low inventory. Although we’re still technically in a seller’s market, some sellers assume buyers can afford what they could during the time of lower interest rates, and oftentimes they can’t.
To address this, we are offering seller concessions or proposing prices slightly below the asking price. In addition, we’re working with lenders who are providing options to buy down interest rates. For instance, if the interest rate is 6%, buyers can secure a rate of 4% for the first year and 5% for the second. The best part is that lenders offer a free refinance within three years, allowing buyers to take advantage of lower interest rates when they become available.
“There are still plenty of opportunities in today’s market.”
By participating in this program, a recent buyer was able to save $600 per month on their mortgage payment without paying any fees, as the seller covered the cost. It’s a win-win situation for both parties, especially when rates are predicted to come down next year.
While the market remains competitive, there are still opportunities for buyers, especially with properties that are priced correctly. Our team is here to guide you and help identify potential deals. Don’t wait too long trying to time the market because buyer demand could surge, which would lead to multiple offers and higher prices.
If you’re considering buying or selling a home, we can help you explore your options. Seize opportunities when they make sense for you! Don’t hesitate to call or email us with any questions and we hope to hear from you soon.
