Six critical changes in the market that are fantastic news for buyers.
If you’re a buyer who has been waiting on the sidelines because you’ve been priced out of the market, I have good news—some critical changes are coming that are in your favor, and today I’ll discuss what they are:
1. Rates increased and then stabilized. You’ve probably heard alarming news from the mainstream media about rising interest rates, but what they don’t tell you is that mortgage rates have decreased and are more reasonable now.
2. One third of buyer competition in the Texas market has gone away. This probably happened because the California migration is already over. Everybody who wanted to move to Texas from California has already done so.
3. The rate increase took some buyers out of the market. There are buyers who no longer afford the prices of the homes they want due to rising rates.
“Buyers now have better chances of negotiating contingencies.”
4. The investor crowd is less aggressive. Investors are making lower and fewer offers, which makes other options possible, such as government, FHA, and VA loans.
5. Sellers are softening to the contingencies. Sellers are more willing to negotiate now.
6. Builder incentives are back. Builders are giving buyer incentives again.
If you gave up your plans to buy a home before, now is your chance. Call or email me so that I can help you with your real estate move. I’m here to help!