Three ideas to encourage buyers to act and help them win in today’s market.
Are you wanting to buy a home but are thinking about waiting until the market shifts and/or interest rates go down? If so, you are not alone. We’ve been hearing from a lot of buyers lately that they’re a little reluctant to move forward, but we encourage them to enter the market now. Interest rates and prices will inevitably go up, so it’s better to act now, and we have a few ideas to help you do that:
- Expand your search area and criteria. Inventory has increased, which gives buyers more options and availability to find their dream homes. Take advantage of that, and keep an open mind.
- Use unique financing options. The Fed is continuing to raise interest rates, but there are still ways you can win, including different types of buydowns or an adjustable-rate mortgage.
- Get seller concessions. These are starting to be possible again as the market is shifting. The seller could contribute by paying your closing costs or paying for a buydown. Sellers are more motivated to do these things as competition has increased. What you don’t ask for, you’re never going to get.
If you have any questions about this or want help purchasing a home, call or email us anytime! We’d love to hear from you.