07/05/2022
I have been asked more times than I can count, "Is it a good time to buy a house?" That question depends on several variables.
While many are nervous with interest rates rising, you can still get a very reasonable rate! Much lower than the 80's which peaked at 18.4% and closed out the decade at just under 10%. The current rate is slightly over 5% for a 30 year mortgage. Under 5% for a shorter-term mortgage. While the rates were lower not long ago, real estate remains a solid financial investment. The market is what I like to call "normalizing." It can't sustain itself as a sellers market forever so buyers are taking back some control. For the first time in years, we have seen offers come in at asking or even below. This brings power to buyers as they can offer a fair amount, ask for repairs or concessions while the seller still gets a high sales price.
Questions? It can be overwhelming to buy a home. Let me help you on your journey!
