If you caught Oz and I’s IG live last month then you know we’re passionate about speaking against the slew of misinformation that exists in mainstream media when it comes to real estate. Well, this blog post will in essence serve as a follow up to that IG live. Ultimately the objective of last month’s live and this blog post really isn’t about mainstream media at all, it’s about you and equipping you with tools to make informed decisions as you either embark or continue on your real estate journey.
We’ll start with interest rates. Yes they’re higher than they’ve been in the past couple of years but once again, the sky is not falling, all is not lost, and there are still good real estate deals available. How do I know this? Because believe it or not, people are still buying houses as I write this! As I stated on IG, anyone that is in a position to buy, this really is your time to spring into action for a number of reasons. One of those reasons being less competition. The masses are on the sidelines waiting for interest rates to fall which will happen at some point, but no one knows when or how significant that fall will be.
Another is negotiating power as a buyer which can range from having the seller contribute toward your closing costs. Sellers, being more amenable to repairs and longer contract contingencies, will better protect your valuable earnest money. These are all advantages that a great majority of potential buyers who are waiting for interest rates to fall will miss out on, likely because the buying pool will be flooded like it was just a couple years ago when rates fell.
To those that tuned in to our IG live may read this and say to themselves, “I heard some of this already!” And while you wouldn’t be wrong, the intent isn’t to be redundant but to emphasize the fact that you as a potential buyer possess more leverage in this current market than you realize. And simply put, I want to help you properly utilize that leverage!
If you think this person may be you, you already know you’re ready to get in the game, or you know someone who can benefit from this information, I’d love to talk!