Let's talk about ADVICE I'M GIVING BUYERS in today's real estate market.
Spoiler alert: there's a big opportunity for buyers now (hint - keep reading to find out why).
I'm going to say something controversial right now...it's actually still a good time for Buyers to buy real estate. I know, I know, but hear me out...
Less competition in the real estate market means BUYERS have more power!
The shifting market is giving buyers an opportunity to see several houses, submit a reasonable offer & get it accepted with necessary contingencies such as a home inspection, financing & appraisal. With fewer showings & fewer offers per listing, more sellers are willing to negotiate with buyers. Currently, there are more homes for sale than we've seen in the past 12 months (according to the National Association of Realtors).
Home sellers are reducing their prices for the first time in a VERY long time!
I am, by no means, saying that real estate property values are dropping.
What I am saying is that in the case where a house may be over-priced, Sellers are reducing prices because their property hasn't sold. Again, we haven't seen this happen in many months.
Rental rates are continuing to rise.
According to Keeping Current Matters & National Association of Realtors, 72% of landlords plan to raise the rent on at least one of their rental properties in the next 12 months. So you can contribute to helping your landlord get rich or you can build your own wealth. (Read that again!)
Here's another shocking statistic:
- A home owner's average household net worth is $300,000.
- A Renter's average household net worth is $8,000.
You do the math & put your money to work for you!
Flexible & creative loan options
Here's another surprising statement - you don't need 20% down to get a loan and buy a house. Lenders today offer a variety of loan programs to help buyers become home owners.
So, if you're the least bit interested in becoming a home owner,
contact us today to start the process. You'll be pleasantly surprised as how seamless & smooth we make the process!
