Market Update Jan 1

If you haven’t heard, BIG changes are happening in the market and interest rates! All of the lenders I’m working with are saying those that buy before February will be like the people who bought before the end of March in 2020.

What does that mean? With rates falling, those that take action NOW will potentially get a good rate with also great terms on the purchase with the seller. Over the last year buyers have been able to get seller paid concessions and better terms on the price of the home as well as repairs the sellers were willing to make.

As more buyers jump in the market, and competition heats up we will see less favorable terms for buyers. Which means, paying more than asking price, less repairs or no repairs made by sellers, little to no seller paid concessions, and those with zero down or little down payment struggling to win bids.

If you have been on the fence on purchasing, I strongly suggest you reconsider. Chat with myself or a lender you trust - let’s figure out if NOW is the time for you to pull the home buying trigger.