Be Realistic if You want Results
What is up with this market? Oh my goodness one day you make an offer and there's 18 other offers that you're competing with, then the next day a house sits on the market for a month, what is going on? Well, here we sit at the beginning of 2023 and the market has changed for sure, there's some reasons as to why the market switched up on us, the majority of it is interest rates going up from being about two and a half percent to like six and a half percent. If you don't understand what that means- it's just a difference in your payments, but what I'm seeing in the market right now is that sellers, you guys need to set realistic expectations on what your house is going to bring in, because a buyer that could afford $350k a year ago can maybe only probably afford $275k this year. Sellers, you gotta be realistic about your prices- buyers, you gotta be realistic about what you can afford, and so we're going to make sure that we're looking at houses within your price range, and that's where the lender really helps. So the market is actually in some ways I think better because right now you are actually able to buy a house if you're a buyer, you're not competing with 50 other offers. Sometimes it's just your the only offer so there's some leverage for buyers, now sellers, don't panic, we are NOT in a buyer's market yet, we're probably headed there, but there's still opportunity to sell your house for a really nice profit because of the way that the market has gone, so I know this is a lot of complex, complicated craziness, but I'd love to sit down and talk with you about what this all actually means, well there's the scoop, Edna Wilson, your Hometown Realtor, as Hometown as Apple Pie.