Is Now a Good Time To Buy a Home?
The Sacramento-area real estate market has changed and home buyers are asking us whether now is a good time to buy? In the past year or so we've seen lower sales volume, longer days on market and some downward pressure on home prices. As mortgage interest rates have risen from historic lows, home buyers and sellers both have felt the squeeze. But, rates have moderated from their peak and we're seeing more and more buyers entering or re-entering the market recently. Check out this quick video:
Home sellers are getting used to some concessions and becomming more competitive with their pricing in general, and buyers are coming to grips with the reality that it might actually be better to pay less for a home and have a higher interest rate than it is to compete with 5 other buyers in a hyper-competitive environment and pay over list price - even if mortgage rates are lower.
There are deals out there. If you're buying a home, remember that the interest rate on your mortgage can be a temporary obstacle because you can always refi later if rates go down. In fact, some lenders are even offering no-cost refi's now if the rates go down within say 3 years of closing. In the meantime, there might be a home-pricing opportunity for you that might disappear if rates do go back down.
If you're selling a home, it's critically important to know the maco and micro market that you're dealing with and work with professional agents that can help you maximize your position. What improvements, if any, will help buyers see the value in your home? What concessions, if any, are you likely to have to deal with and what's the best way to market your home? These are all issues we're experienced with and will be glad to visit with you about.
Chck out Roseville homes for sale below and submit the form below to contact us today.