September 15th, 2022 9:57 AM by Judy Chapman
They say everything is like a pendulum. It swings to the left as far as it can go and back to middle, then to the right as far as it can go and back to the middle. Well the market had been on one of its outgoing swings, but might be coming back a little closer to the center. Not all the way!! Inventory was non-existent, prices were sky-rocketing, multiple offers, and low interest rates. Definitely a sellers market. But "things, they are a-changin'!" Inventory is a little better, prices are moving down the scale to more of a reasonable range, and multiple offers are more rare than they were--probably because interest rates have gone up.
If you are a seller, you might have to start doing some preparation for the sale of your home. Before, you could sell it with some existing issues, depending on the buyer's lender. Now, you've got to spruce it up a bit. You might have to do the price reductions a little larger than you wanted and a little more often in order to attract the buyers you need.
If you are a buyer, I know what you are thinking!! Those Interest Rates!! But what are you going to do? Wait for them to come back down? How will you know when they are going to come back down? We would all need a crystal ball to gaze into.... Might as well go ahead and take the plunge. IF and WHEN the interest rates drop, do a re-fi for the lower rate. It's that simple. Get your pre- qualification updated with your lender and let's go shopping. Take a look at the listings I have to offer. Includes one new construction, one large tract of land, one commercial and several single family home. Buy Today!!