11/14/2022
🏠Right now is a great time to buy-IF you want low out of pocket costs AND can afford the monthly payment.
The last two years have been EXTREMELY hard to get closing costs covered by the seller or getting offers accepted with little NO down payment.
Buyers also often had to do appraisal gaps (paying out of pocket, usually thousands of dollars, to cover appraisals that came back lower), not getting inspections or not being able to negotiate repairs, NO more!!🙌
Houses are sitting on the market longer and there are more price drops, which means buyers have more room to negotiate. We have a better chance of getting your closing costs covered by seller and/or getting an offer accepted with a low-down payment or NONE at all! 😍
Rates are higher than the last two years. We experienced lifetime low interest rates which caused all the buying madness. Interest rates often do not stick with the lifetime of the loan and your loan can be refinanced when they do go back down. There are also rate buy downs which can be covered by the seller in certain scenarios.
As always, the most important thing when buying a home is being able to afford your monthly payment. If you talk to a reputable mortgage lender, they can give you an idea on how much your mortgage payment will be for the price range you want to be in.
I want to be YOUR Realtor when you are ready to buy! If you have any questions about real estate, do not hesitate to reach out!