Will 2023 finally be a good year to buy a home?
Mortgage rates have doubled in less than a year and the real estate market has taken a beating. Prices have softened and sales of existing homes are down.
With the current data, I don’t see the market significantly swinging toward helping sellers or buyers in the short term.
For sellers, to maximize your listing price do a little extra work to make sure your home shows as well as possible and make sure you hire an aggressive realtor who will maximize the marketing on your home to the most number of buyers.
And for you buyers, now is still a good time to buy. But we are not talking about bargains. Mortgages are more expensive than a year ago but you have less competition and more leverage to get a little help with the purchase of a home. Use that leverage, and ask for help with some repairs, closing cost or even ask the seller to help lower your interest rate.
For questions on buying, selling, or investing in residential real estate contact me so I can help
Bye for now.