The Time to Buy is NOW!
Majority of Realtors right now keep saying this is the “slow” season. Time for them to vacation and prepare for next year. I think they are crazy! There has literally never been a better time to buy and I will tell you why.
1. Interest Rates
Interest rates have fallen below 3.5% for a 30 year mortgage. 30 years ago interest rates were over 10%! 10 years ago when the market was booming before the recession interest rates were still over 6%! People keep saying rates are going to go up but, they just keep going down!
2. Silly Season is Coming
What I mean by the silly season is coming, is Spring. There are houses that have been on the market for over 30,60, or 90 days. Which is a long time in this market that we are in. People see a house thats been on the market for 30 days and automatically think something is wrong with it so they cruise right on by that listing. Thats a huge opportunity for a buyer right now! Someone who was expecting to sell their home in a day or a week has now had it on the market for 1 or 2 months. They are ready to sell that house! Right now you may be able to get a house much cheaper then you would if it were the silly season. How can I get a house cheaper right now you ask? No competition.
3. Competition is weak
Right now the competition is weak. Who’s the competition? Other Buyers. I can’t tell you how many times this spring and summer I put in over price offers on homes and still got beat by someone who submitted an offer for more money. You don’t have to worry about that in the fall because so many people have been brain washed into thinking the time to buy is in the spring. I don’t know about you but I would much rather buy a home in the fall when theres no competition, sellers are eager to move on, and I’m very likely to get a much better deal! Oh ya and interest rates are lower then EVER!
This is my two cents on whats happening in the market right now. If you have any questions about real estate or mortgages please feel free to email me at email@example.com. You can also follow me on Facebook, Instagram, or Twitter @fritzballkw!