Buyers / Sellers

Advice for Homebuyers

Congratulations on your decision to buy a home! Buying a home is the fulfillment of the American Dream. It encapsulates, security, pride of ownership and allows you a significant wealth building and tax deduction vehicle that is second to none. This dream can come at a cost. Depending on what the market conditions you are buying in, the process can be a breeze or a challenge. Here are three examples of home buying market conditions and what challenges you could experience in each market:

Buyers’ Market:

Conditions: Falling interest rates, large housing inventory, seller discounts and credits.
Challenges: Not too many challenges in this market condition. It is the best market to buy in.

Balanced Market:

Conditions: Variable interest rates, balanced housing inventory, limited seller credit or discounts.
Challenges: Conditions could change abruptly, equal amount of buyers and sellers.

Seller’s Market:

Conditions: Rising interest rates, low housing inventory, no seller credits or discounts.
Challenges: Tremendous competition, mortgage payments are rising in tandem with housing prices.

Advantages of Working with a Well-Seasoned and Professional Realtor

Each market condition presents obstacles that a seasoned professional can explain to you in detail and prepare your expectations. Understanding the market conditions can also benefit you in custom designing your purchase offer to the sellers and maximize the effectiveness of your offer. Also, a seasoned professional has connections to the best lenders, inspectors, contractors and other market professionals they can refer and provide you the best insight to your new home’s condition.

Let the professionals at Authentic Real Estate and Property Management help you with your new home purchase. We are a reliable resource for all your real estate needs!