This is why waiting out our market may not be the best strategy for you.
Are you waiting for house prices to go down before you buy? What if interest rates go up? The markets are crazy right now: Prices have gone up, and multiple-offer situations have become very common. A lot of buyers are seeing this craziness and deciding to wait it out, but with interest rates about to rise, that might not be a good plan. We want to talk today about how interest rates affect the affordability of a home and what you should be looking at if you’re trying to wait out the market.
You can watch the full message above or navigate to topics that interest you using the timestamps provided below:
0:52 — How do rising rates affect prices?
1:15 — What would cause rates to rise?
1:51 — How do our rates compare to historical rates?
2:37 — How likely is it for our prices to drop enough?
3:53 — What are the indicators for interest rates going up?
4:58 — The advantages over the life of the loan
5:45 — One last prediction
6:05 — Wrapping up
With interest rates in limbo, waiting is simply not a good strategy for our current market. If you’re still on the fence about waiting or you have any other real estate questions, feel free to give us a call. We would love to sit down and talk with you.