Are You In A Home That Doesn’t Fit Your Needs?

Are you in a home that doesn’t fit your needs and you just desperately are looking for a new place that fills all of your criteria and all the requirements that you’re looking for in a home? Well, stay tuned. I’m going to talk to you. I’ve probably got some pretty good news for you. All right, hey, I can’t tell you how many conversations we have with folks that just for one reason or another are really just the house that they’re in or the apartment that they’re in doesn’t meet their needs for whatever reason and they’ve had it and they’ve got to make a move. If you find yourself in that situation, however concerned about the interest rates, prices, and the economy, let’s have a conversation, right?

So, let’s take a step back and look at what was going on this summer compared to where we’re at right now. So, if you were out there taking a look at what the market was doing this summer obviously you were competing against the whole world, it seemed like. You’d find a house for, let’s say, $500,000. It would get bid up to 550 or even 600, and you’re competing against seven or eight different people and you got no stipulations, right? I mean, you had to buy this thing as-is. You probably had to come out of pocket with some extra money. Let me tell you, those days are over. Yeah, you were at a rate, you had a great rate at 3.2, right? But you just couldn’t get the house, you couldn’t buy, you couldn’t compete against everybody that was out there.

Today, it’s totally different. That $500,000 house probably selling for 475 or below, sometimes even 450. Yeah, your rates are going to be at about 6.2. But hey, you actually get to throw some contingencies and maybe some stipulations into the offer. What about a home inspection? We’re now seeing that houses, the contingency of a sale could be contingent on a successful or satisfactory home inspection. Couldn’t get that in May. What about the contingency of selling an existing home before you buy a new home? Wouldn’t have gotten that back in May and June of the summer. You can now start negotiating some of those things. Your leverage as a buyer has never been higher than what we’ve seen in the last five years than you’re seeing right now.

So yes, your rates are a little bit higher. So let’s talk about that. The house that you could have gotten maybe for 550 at 3.2, that you’re now being able to get maybe for 500 or even below 500, let’s say 495 or 490 at a 6.2% rate, your payments are going to be the same. And this gets back to what I originally said. Why are you moving to begin with? Most people are moving because they’re not happy with the existing home that they’re living in right now. It just doesn’t meet your needs. So, what are you waiting for? Why are you going to wait another five years? Seven years for rates to drop? Really, you’re sitting there in a place that you really don’t like for that long. I mean, that’s a personal decision. Most people buy homes that are going to be in ’em long term seven to 10 years is the average time that people actually own a particular house. So, this is a long-term purchase. Listen, a year from now, two years from now, when rates drop or if they drop, I can’t guarantee they will. But if they drop you refinance and you’re going to be at a lower rate, it’s a long-term purchase. So, the higher rates that you may pay for a year or two in comparison to the long-term purchase that you have that home for and all the memories that you’re going to build there and living in a place that you’re happy with, is going to really outweigh the additional money that you may end up or may not end up paying over the short-term here.

So, once again you’re going to get the same house that you could have gotten at a much higher price back in May and June. You’re going to be able to get that home for a much lower price in today’s market. So, it kind of offsets the higher rates that you have. So, if you got questions if you’re not happy with where you’re at, and if you’re looking for a property that’s going to best meet your needs let’s talk about it. Let’s see what options are out there for you and at least have a conversation about those options. So, hopefully, this was helpful and gave you a little bit of insight into what’s going on in the market and sparked your interest in the possibilities that are out there for you.

If You Are Ready To Find A Home That Does Fit Your Needs, Contact Us!

Keller Williams in Cherokee County Ga

Keller Williams in Canton, Ga

Keller Williams in Woodstock, Ga