Today’s real estate market is very unique because we are still short on inventory and at the same time we have approximately 70% fewer buyers looking for a home, which means less competition to buy.
In today’s real estate market, homes are taking a lot longer to sell and most sellers are not getting their list price. Now there’s a caveat to this and that is if a home is either a fixer or completely fixed up and staged, these homes are still seeing multiple offers and selling at or above the list price.
For the average house on the market today, buyers have a huge advantage because we are negotiating for our buyer's favorable prices, and terms, and asking sellers to pay discount points for our buyers so that we can buy down our clients’ interest rate.
I understand buyers are hesitating because payments today are much more than what they may be paying for rent. Please remember each month you pay your rent, this money has not gone toward any future equity in your home and you have not received any tax advantages, you will always have to pay someone else’s mortgage payment which benefits your landlord not you.
On the other hand, each time you make your house payment, you create equity for the future and you are 1 month closer to owning your home free and clear. I have been doing this for 32+ years and many of the clients I helped when I first got started in the business, today own their homes free and clear and they no longer have a mortgage payment. Now that is something to be proud of. Even if houses never, ever went up again in value (although, this is highly unlikely) at the end of 20-30 years your house is paid off and you have no more mortgage and you own your home.
Ask yourself, If you continue to be a renter, where will you be in 10-20-30 years? How much more rent will you be paying? How much have you gained in equity while you were a renter?
Call me and let’s get you qualified for a home loan and help you become a homeowner.
Read Article Here