No one really knows if it is the RIGHT time to purchase a home but there are better times for one to purchase a home depending on their circumstances.
Over the past year interest rates were at an all time low. This made it very inviting for homebuyers. Their interest rate was low making their payments low. But at the same time there were way fewer homes on the market making the process of getting one’s offer accepted very challenging. For some, they could afford to pay over list price and either waive the appraisal or be able to pay the difference if they were getting a loan.
But for the first time home buyer that was not the case. Running from home to home and rushing to make an offer only to find out it wasn’t accepted was more the norm than before. So for the first time home buyer it was a really challenging time to purchase a home.
But what about now? More homes are on the market, one is seeing sellers reducing the price on homes BUT interest rates have gone up. Is this now a better time for one to purchase a home?
Give me a call so we can discuss your situation, it may be the right time for you.
Mary Cockburn/505-639-2090/MaryCockburn.Realtor@gmail.com
