Are you thinking of buying or selling a home, but worried about high interest rates?

Many people look to real estate agents to help them determine if now is a good time to buy a home. Real estate agents have a lot of experience and knowledge about the housing market, so they can provide valuable insights about whether or not it’s a good time to buy. Real estate agents are always furthering their education and keeping up to date with the market to best help their clients. This means that they are constantly learning new things and expanding their skillset. This is beneficial for both the agent and the client, as the agent can provide better service and the client can be sure that they are getting the most accurate information possible.

 Buying a house is a major life decision, so it’s important to consider all of your options. With the current state of the economy, many people are wondering whether or not now is a good time to buy a house. There are a lot of things to consider in addition to interest rates, such as location, size, and cost. 

 Many fear that with high interest rates that they are paying more out of pocket than the low interest rates coupled with a high sale price. Don’t let this common misconception stop you from finding your dream home! While it’s true that rates are rising, now is still a great time to buy. With low inventory levels and high interest rates, you have the chance to get your buying power back and find the perfect home for you!

 If you’re looking to buy a home, you may be wondering if it’s better to offer below asking price or at asking price. You no longer have to sacrifice equity by paying over market value to win in a 10-15+ multiple offer scenario. So, instead of paying $50,000 over the asking price, you can now win with an offer below or at the asking price! With the current market conditions, you also now have the option to do full inspections and negotiate repairs or credits vs waiving inspections all together. 

“Since 2019, it has been rare for a buyer to be able to even ask for a Home owners warranty in fear of losing to an offer that didn’t. In 2020 and 2021 it was becoming common to expect an offer “As-is,” without any inspections, and forget about closing costs. On average closing costs can be 3-4% of the purchase price depending on lending and title fees. A buyer now has the chance of winning an offer while asking for seller assistance with closing costs, warranties and being able to negotiate inspections. Now is a great opportunity for buyers to get the home they want without having to worry about losing out to another offer while still having Buying Power.”-Aaron Danison Realtor with RE/MAX Integrity in Saint Louis, Missouri

The benefits of closing costs are often misunderstood. They can actually be beneficial for both the seller and the buyer. Seller concessions allow you to roll the closing expenses back into your home loan, making it easier for you to afford the purchase price.

 For example, let’s say they want to net $199,000 from the sale of their home. You might have the necessary down payment, but need help with closing costs. In this scenario, the sellers could consider an offer of $203,900 with $4,900 going toward the buyer’s closing costs. 

This can be beneficial for both parties involved: The sellers still get their target amount of $199,000 and you as the buyer only have to finance a slightly higher purchase price.

  While many home buyers still prefer to physically visit the homes on their shopping lists, the real estate market is increasingly influenced by online searches. About three-quarters of buyers will search online before seeing a property in person. When making an important purchase such as a home, it’s essential that you appeal to your target audience. Listing3D is the perfect place to find high-end digital media that  includes virtual tours, to do just that. With so many buyers searching online, especially those moving from out of state, this is an essential tool to help drive organic traffic and appeal to potential customers.

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