Friday, August 31, 2018 / by Lindsey Gudger
If you’ve been waiting for the right time to buy in our market, now’s your opportunity—and there are a few reasons why.
First of all, there’s less competition among buyers now than we’ve had in the last three to four years. More sellers are putting their homes on the market and there are fewer buyers per house, which means you won’t face nearly as many multiple offer situations as you would have in years past.
At the same time, we’re still dealing with historically low interest rates. In other words, the money you’d borrow to buy your future home is much cheaper—you’re paying less interest on the money you’re borrowing than you would be a year from now.
Lastly, buyers finally have a bit of leverage over sellers. For instance, in many cases, you’d get at least some (or all) of your closing costs paid. Don’t get us wrong—we’re still in a seller’s market, but right now you have the opportunity to pay less out-of-pocket to purchase a home.
This also doesn’t mean that you can hire any agent off the street and they’ll be able to take advantage of these conditions for you. Finding the right agent to represent you is crucial, so do your due diligence and interview a few before deciding who to hire.
This is a super exciting time—we’ve been waiting for this for a long time, and it’s here! A lot of buyers have been waiting for the market to change as well, so now’s the time to get out there and start shopping.
If you have any more questions about our current market or you’d like our help in finding and closing on your dream home, don’t hesitate to reach out to us. We’d be glad to help you.