07/06/2022
Here's a snap shot of the current OKC market as of the last few days. It’s a market correction largely due to the increased interest rates.
🏡 As a seller you need to know now is not the time to over price your house, the price decreases were an average of 6%. Chose a realtor that knows your area/the market/is trained and capable to handling your home sale whether you have multiple offers or need real marketing skills to help you get the most for your house if it takes more than a few days to go under contract AND STAY UNDER CONTRACT. The market will never let your home sell for too cheap.
🏡 Buyers, get an update from your lender to see how your payments may be affected by the current interest rate as it may be different than when you first got prequalified. Expect to pay full price or very close to it and have a reasonable understanding of what condition the house is in without expecting the seller to do a lot of minor repairs. Safety and functionality is what you're looking for in an inspection and once you've finally won a bid or were able to get on on the first try (not common) get clear with your agent on what's deal breaking and what's not. It's still a sellers market but that doesn't mean you have to inherit someone else's mess. Commit to one agent that will work for your best interests.
#1 most important thing is to work with a professional, I hear horror stories everyday of individuals going about it alone, losing so much money or getting into predatory contracts that are not protecting their interests in any way. 💰 Joann Blackstock KW Green Meadow