Welcome To The Jungle

Welcome to the jungle, we got fun and games! There is never a dull day in real estate; not if you are actively seeking homes to purchase and rent, or working with sellers. You will notice a lapse in my blog posts for Memorial Day. I took the opportunity to observe it as a day of rest and remembrance. It's a good reminder that choices you make may have a much more grave impact than you expected and to be respectful of yourself and those who have fallen. 

Now, we're almost to July and it's H-O-T outside. Keep your foundations watered! Keep the grass watered! Keep yourself watered! No, for real; stay hydrated. Try to keep your foundation watered if you currently own or live in a house with a slab. Keep your grass watered as to not be a fire hazard. Keep yourself watered, well, always keep yourself watered. It's how the flower grows most easily. 

Our market is seeing some price reductions but not a significant change across the board. We are having good movement with mortgages, meaning rates and fees and time to close are all balanced. Are interest rates high right now? Yes. They are much higher than the last couple of years. Are you waiting to buy because it will all come crashing down and you'll get a 2% rate in 6 months? You may be waiting longer for that. The issue with affordability is you need to buy when you can, if that is your goal. You can always refinance. That is not a ploy to get you to buy a home. It's a push to look closely at how the neighborhoods you want to be in are doing, and when you see pricing rise, it doesn't often come down quickly. Even if we have a significant change in the market, that neighborhood may not be affected in the way you're expecting. Always do what makes sense for your budget, even if that means renting! 

I am grateful to see buyers finding interest rates with special programs, new construction, and larger costs (unfortunately), but in the 6%'s. That's a marked improvement for affordability. Why don't I as a REALTOR® want all the prices to be so high? Well, it means less people can buy a good, solid, American-built home. And I think that is a travesty. We work hard for our money (are you singing it?); we want a nice place to live that doesn't need a whole lot of work. A quality home. And if yours is a little bit better than another, maybe a little bit higher priced. But within range! One of the best parts about my job is that I can help someone really get a home they love. Where you live matters; to you! 

If you have any questions about the market, feel free to ask. I can connect you with great lending partners, new construction partners, trades, landlords, and lots of folks that are 'in the know'. Thank you for reading!