Home Shopping in Today's Market

HOME SHOPPING IN TODAYs MARKET

If you've been holding off on buying a house because of mortgage rates, it might be time to reconsider. Let's break down what's new in shopping for a home in today’s market.

Forget the notion that mortgage rates are sky-high.

While they did reach alarming heights in 2023, I believe the highs are behind now us. And with inflation getting under control, I expect rates to trickle down. 

Sure, they're not as low as we'd like them to be, but they're certainly more manageable than before. So, if you've been eyeing that dream home, now might be the time to pounce.

You're not the only one eyeing that dream home.

Competition in the housing market is still heated. In some areas, properties are flying off the shelf, if marketed correctly. So if you see something you like, don't wait around. Make your move before someone else does.

Seller Concessions

In the past couple of years, sellers held all the cards, but the pendulum has swung to a more balanced market. Every situation is different. Where the market has shifted, some sellers are more willing to negotiate. So don't be afraid to ask for closing costs or other concessions. You might be surprised at what you can get.

And speaking of offers, you don't have to go all-in right away. Gone are the days of submitting your best and final offer on the spot. Instead, consider making a 'soft offer' to test the waters. It's a low-risk way to see if the seller is willing to negotiate before committing to anything. 

Flipping houses

In the recent past, it was a surefire way to make a quick buck. But in today's market, we are reminded that real estate is a long-term investments. Focus on finding a home you can see yourself in for the next five+ years.

If you're ready to take the plunge, now's the time.

And if you need some guidance along the way, connect with me to help you navigate the ever-changing landscape of the housing market.

I am a real estate professional, with an expertise in financing. Connect with me for a consultation and to get mortgage ready. I encourage you to get pre-approved. 

Pauline Lee | (508) 525-5415 | pauline@indmortgage.com

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.