If you’re thinking about buying a home, you’ve probably heard mortgage rates are rising and have wondered what that means for you. Since mortgage rates have increased over two percentage points this year, it’s natural to think about how this will impact your homeownership plans.
Today, buyers are reacting in one of two ways: they’re either making the decision to buy now before rates climb higher or they’re waiting it out in hopes rates will fall. Let’s look at some context that can help you understand why so many buyers are jumping off the fence and into action rather than waiting to buy.
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In today’s housing market, homeowners have a great opportunity to sell their house and receive the best terms for their personal situation. That’s because there’s a limited number of homes for sale, which is creating competition among buyers. Right now, homebuyers want three things:
To be the winning bid on their dream home
To buy before mortgage rates rise more
To buy before home prices go even higher
These buyer needs give you an amazing advantage – also known as leverage – when you sell.
What Does This Mean for Sellers Today?
You might already realize this enables you to sell at a good...
Florida Mortgage | Millennials Make Up The Largest Share Of Homebuyers In America
NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany
Florida Mortgage | Buyers Are Lining Up To Make an Offer in Today’s Housing Market
NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany
Some Highlights
If you’re deciding whether you should make updates before you sell your house, lean on your trusted real estate advisor to be your guide.
In today’s sellers’ market, buyers have limited options and may be more willing to take on repairs themselves.
If you’re thinking about selling your house, let’s connect so you have expert advice that’s customized to your home and our local area.
Content previously posted on Keeping Current Matters
Florida Mortgage | South Florida Real Estate market not keeping up with demand. NMLS ID 1834853 #floridamortgage #floridamortgagerates #floridamortgagecompany