04/22/2025
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Thinking of buying or selling?
Here's a few of my thoughts on today's market:
There's pressure on the Fed to drop rates, so how do we translate this into our own situation?
BUYERS:
Now is an amazing time to buy!
Cons- Interest rates are a bit up right now, but what's this mean? Slightly higher payments that can be refinanced into lower payments when rates come down. You can refinance anytime after your initial loan. So if rates drop in 6 months, you can lower your payment!
Pros- Homes are staying on the market longer, which means, more buying power to the buyer! Longer on the market = price reduction!
Home prices are currently negotiable without battling several other offers.
Additionally, buyers are getting into homes with minimal money out of pocket. Sellers right now are willing to pay buyer's concessions and closing costs to get their home sold.
This is a great opportunity for people that want to get into a home but don't have extra reserves after down payment.
If you wait until summer, you could get outpriced or end up paying way more for your home.
SELLERS:
GET READY!
I believe rates will be downward by June/July. Which means buyers will be out in full force for the summer! We always see an uptick around June because school is out for the summer, among other things. This summer, I believe, will be extra busy when rates come down. Buyers have been waiting for rates to drop and when they do, we'll see an explosion in the market. You can expect to get full price or even more, if we can price your home properly, and create a multiple offer situation.
BUYERS: FOR MORE INFO, PLEASE REACH OUT WITH ANY QUESTIONS.
SELLERS: FREE VALUATION OF YOUR HOME! LET'S SET UP A GAME PLAN.
LETS TALK!
-Nick Ostrom
206-353-3261
[email protected]