Creating Affordability in Real Estate

"What's Your Interest Rate?"With everyone hyper-focused on interest rates, I'd like to take a moment to address rate buydowns and how they can benefit many of the buyers on the market today. Here's what we know about the housing market: As rates fall, more buyers will enter the market, meaning competition will increaseWhen there's more competition, buyers are forced to place higher offers, resulting in over-paying for a home If we're able to get buyers in the market now when there's less competition, they will be in a better financial situation and have more opportunity in the future than if they're waiting for rates to fallThis strategy of a rate buydown has helped many buyers get a lower rate and the win-win that they're looking for with a lower home price and a lower rate. In this video, I talk about a temporary buydown, which is the most common that we're seeing in today's market, and how it can help today's buyers create affordability. Reach out with any questions or if you want to see what a temporary rate buydown looks like for you!- Darren

Should You Buy Now or Wait?

Is Now a Good Time to Buy?Media headlines have done us a disservice when it comes to real estate and the housing market. They've convinced consumers that it's a bad time to buy, regardless of their personal economy. The truth is, this is going to be different for every individual - for many in the country right now, it's the perfect time for them to buy. Here's a few things to consider as we continue into a dropping-rate environment: Supply & demand effects home prices, meaning home prices will increase as rates drop and more consumers enter the marketIf you buy now when there's less competition, you have the ability to refinance down the road in order to get a lower home price now, and the lower rate that you're hoping forTrying to time the real estate market is nearly impossible - getting into the market and letting your asset appreciate as you build equity is more valuable than a .25 lower rate, as long as you're in a position to be able to buy right nowAs always, reach out if you have any questions or want to talk about what buying in this market would look like for you!- Darren

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