11/08/2022
If you were the buyers that didn't want to compete in multi-offers, it is now your time! Of course everyone is is fretting those higher mortgage rates and yes - you are now in a different budget range where a $250,000 house a year ago cost you an extra $500 - $600 a month but if you are waiting for rates to come down, unpack your bags because those 2%-3% rates were historical and we probably will never see them again. See right now, its headed back to normalcy and all of us have forgotten what that was like - you think 7% is high, Ive been in meetings where people that financed homes in the early 80's paid 16.5% for their home - yeah how bout that....7% doesn't sound too bad right? So, if you can get passed that the rates right now, you have a little more buying power because homes are not selling in 15 seconds and buyers do not need to give up their first born to win the multioffer. Sellers are having to entice buyers again so their home doesn't become stale and help with closing costs and buy downs could come into play again. As always, I am here to answer questions so if you need me to run some figures for you, just call or message me!
