*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Today's market is a scary one for anyone looking to purchase a home. When you turn on the TV, read the news, or check out interest rates, alarm bells seem to be screaming DANGER! DANGER! DANGER!
Yes, this market is nerve-wracking. Buyers don't know what to do, or where to go, when it comes to navigating this home buying minefield. Thankfully, there's people in the housing industry, like myself, to help ease minds and show people the route to purchasing an affordable home.
The good news is that there are definitely pro's of purchasing in today's market. The first one is that sellers are willing to pay concessions towards a buyers closing costs, interest rate buydowns, and home repairs in order to get their home sold. Yes, you'll need to negotiate this with the seller's and their agent, but these days more than ever, sellers are willing to have that discussion if it means that their home goes under contract.
Secondly, house prices have dropped over the last few months. Because of the high interest rates putting a damper on the affordability of homes, sellers have started to lower their asking prices of the homes they are selling. Even though the high interest rates are alive and well, people are still able to afford homes because of these lower sales prices.
Having more time to make decisions and do a more thorough inspection of the property you're looking to buy is also a good thing. Less buyers in the market means that homes are available for longer periods of time, and your decision process doesn't need to be rushed. It may not seem like a big deal now, but you'll be thanking yourself in the future if you take this time to make informed decisions.
Lastly, buying is still cheaper than renting. Yes, even in this market.
For more information on the positives of buying a home in today's market, contact me today! I'd love to help you purchase the home you've been dreaming about!
*disclaimer: Not all individuals will qualify for each loan type and/or scenario. Please contact me to see if you'd qualify for these loan products and/or discuss your options.
Brayden Ramsay NMLS #1997195
Momentum Loans NMLS #1606597
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