The top question should I buy a home in this market? Well let's break that down just a little more to get to the facts. Clients always ask me this question and to me for sum sure you might need to wait but for most we find this not to be the case. Here is why so you want to own your own home you are thinking of bills can I afford it, wow interest rates are high right now, that will raise the payment up. Your stuck in the zone I can grounded client. So that is not meant as a bad thing most of the time clients find themselves in this position because of things they hear from others and most of the time there is a lot missing.
So here is my answer to my clients when I get asked is it a good time to buy? YES, it is and here is why. Interest rates are elevated right now yes, they will go down we can't predict to what level, but we know they will drop. No do I think we will see the 2 and 3 percent like before no I really don't. You know you can refinance your load when the rate drops to look in a better one long term. Then we look at rates vs market there is one really big difference you can refinance a loan, but you cannot change the price for the home you already bought. Here is what I am getting at you can wait a couple of years and buy a home with a better rate or buy a home now that cost less because home values are going up. If you have a home now you will build equity into the value and already start paying the principle but that same home couple of years from now could be 20,40 even 60 thousand more. The truth is in the numbers, and I can help show you how this works and why it's still a good time to buy a home. I hope when that time comes you think of me your market expert to navigate the rate home for you.
