If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer.
But what was once your greatest challenge may now be your greatest opportunity. Today, data shows buyer demand is moderating in the wake of higher mortgage rates. Here are a few reasons why this shift in the housing market is good news for your homebuying plans.
The Challenge
There were many reasons for the limited number of homes on the...
Realtors are not sales people! There, I said it. Contrary to public opinion, reputation and all the negative attention that gets dumped on us we don't "sell" property. We manage and build relationships, guide clients through complicated and emotional transactions and creative problem solve. Realtors wear many hats but have one focus - our clients. What is best for them, how we can help them, how we can make their real estate dreams come true and hopefully with joy and the least amount of stress.
Some clients don't make it easy
My most recent closed transaction was one of the most difficult transactions of my career and nothing about preparing the home, managing my client, marketing the home, securing a buyer and then collectively managing the entire process until we closed escrow felt salesy for even one second. Realtors don't "sell" properties, we solve problems....
If you’re not finding the “perfect” home as soon as you’d like, it’s easy to become frustrated and feel as though you are at the whim of the market. I’m here to tell you that staying patient is not your only option. What you can do to regain control over your home search is take a more strategic approach to the inventory you’re looking for. By categorizing your search into three specific fields, you can take more control over your search by understanding what is realistic and how that reality compares to your dream home. The truth is, fantasizing about your dream home tends to be a very romanticized process, as if we could simply manifest the home of our dreams and it will magically appear on the market within days…but it’s not always that easy. When it comes to finding that home...
Contemplating starting a home search but not quite sure where to start? While your first instinct will be to jump online and start shopping for houses, there are several more practical steps you can take to prepare for the home-buying process. Don’t get me wrong, shopping inventory is a very important and hopefully fun part of the process for you. It is important to understand different neighborhoods, styles of homes, and current price ranges to get familiar with your specific real estate market. However, there are several other factors that may impact your search and are important to understand at the beginning of your home search. Here are three things you can do to prepare yourself to buy your next home:
- Financial Assessment - Getting crystal clear on your finances will save you a lot of time you...
Mortgage rates are much higher today than they were at the beginning of the year, and that's had a clear impact on the housing market. As a result, the market is seeing a shift back toward the range of pre-pandemic levels for buyer demand and home sales.
But the transition back toward pre-pandemic levels isn't a bad thing. In fact, the years leading up to the pandemic were some of the best the housing market has seen. That's why, as the market undergoes this shift, it's...
If you're thinking about making a move, you probably want to know what's going to happen to home prices for the rest of the year. While experts say ...
Over the last two years, the rate of home prices appreciated at a dramatic pace. While that led to incredible equity gains for homeowners, it's also caused some buyers to wonder if home prices will fall. It's important to know the housing market isn't a bubble about to burst, and home price growth is supported...
