Buy A Home Now While Rates Are Low
This week’s Tip Tuesday is coming from a HomeAdvantage Realtor® we work closely with at Launch CU, Lee Goldberg. He is a Coldwell Banker Real Estate agent. Lee serves the Central Florida, Space Coast, and Las Vegas real estate markets with hundreds of transactions. Lee consistently finds homes that are an ideal match for customers preferences.
The amount of buyers I am seeing is unlike anything I have ever seen in my 11 years of Real Estate. The interest rates are one of the driving forces. They are ridiculously low. The reason to jump on it now is simple. What costs you $1 today will most likely cost you $1.10 tomorrow. So your buying power will diminish when the rates are higher, which means less house.
Have Your Down Payment Ready
Right now it’s highly competitive for first-time home buyers because of the price range most are in. They’re ending up in multiple offer situations. You should also be weary of asking for closing costs during this competitive time. If offer “A” has a larger down payment and doesn’t need closing cost help from the seller, which offer would Mr. Seller accept? Sadly, the no closing cost option.
Make A Plan
With that said, there is still solid inventory out there. The key is to make a plan. Remind yourself this is business. Do not get emotional. Do not get attached. Find a home that works for you; one where the numbers make sense especially for resale.
Pick The Right Team
Most importantly, surround yourself with the right TEAM. This includes the right realtor and lender, as well as with people with vast knowledge, professionalism, incredible communications (this is KEY), and experience. Let your team, led by Launch Credit Union and the Home Advantage program, get you on the path for success.