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In 2021 the housing market was like nothing we have seen before. Homes going for significantly above list. Buyers having to waive all of their contingencies, no seller concessions, non-refundable earnest money deposits, and giving free post-occupancy to Sellers. These factors were driven by the historically low interest rates and housing inventory.
You may be asking yourself why should I buy now or thinking that interest rates are too high.
Let me give you a couple of reasons why now is the time to be jumping into the market:
- Sellers are offering money back for closing costs
- Some buyers paying less than list
- Able to keep all of your contingencies
- Less competition
- Writing fewer offers
The biggest reason to buy now is you have the luxury of time. 2021 was a year that buyers had to be submitting an offer on a house within hours of seeing it. There was no time to think about if the house was right for them. Many Buyers were on a timeline due to leases expiring, they had already put in 15 offers and were tired. Choices were being made, that if you had a chance to think you may not have put an offer in on the house. You as a Buyer have more power in negotiations than you have had in the last two years. Right now you should be marrying the house and dating the interest rate.
As I said , it is a great time to buy. Would you rather get money off of list, get closing cost help, keep all of your contingencies and have time? Or would you rather have a 3% interest rate, pay over list, lose all contingencies and get no money back for closing costs?
I know what I would choose.
Take advantage of the changing market and get into that home of your dreams!
To see how I can make this happen for you: call or text me at 571-271-1670 or email me at christine@christinearmintrout.com
