What the change in the market means for me as a buyer

Market change

It seems like we were waiting for the market to change a few months ago, and now we are waiting for the market to change again. This depending on which side you are coming from…. first from the seller’s side, and now from the buyer’s side. Sometimes you just have to take a deep breath and take the plunge!
We have moved from a seller’s market into a buyer’s market. As interest rates are climbing buyers are sitting waiting for it to get lower again, but it has not decreased. It’s been climbing steadily, and we don’t know when it will stop. There are ways of managing this new challenge, and to speak with your lender would be a good start. Guaranteed Rate Affinity for one has a great program where you buy down points and bill the seller. If you are looking for a good lender, I can hook you up.
Back to the point I was wanting to make. About 6 months ago we were in a situation where every house that got listed went under contract within the first few days with multiple offers and buyers bidding over list price. As much as $100k over list price in some instances. So why would the buyers be prepared to use their hard-earned cash to offer over list, but they are not prepared to use that same amount of money now to buy down the interest rate? There is so much more inventory to choose from and rarely multiple offers. You may even negotiate the price down and still get the house you love instead of any old house in the neighborhood.
This is a call to all buyers out there. The time to buy is now. This is a buyer’s market. Do you really want to wait for it to turn into a seller’s market again and fight to get a home?
Contact me now and I will guide you through the process one step at a time.