Mile High Living with Star

As I see it, there are two types of buyers right now. Those that are going to win in this market and those who are going to miss the opportunity. There are far too many buyers waiting for interest rates to drop to buy and I am going to tell you three reasons why now is the best time to be a home buyer.

LESS COMPETITION

Goodbye Bidding Wars! One of the most enticing advantages of being a home buyer in the current market is the reduced competition when searching for your dream house. Say goodbye to the frenzy of bidding wars and the stress of constantly being outbid. The high interest rates have led some potential buyers to hold off on entering the market, resulting in a more balanced and less competitive environment. This means that you have the opportunity to explore available properties at a more comfortable pace, carefully evaluating each option without the pressure of hurried decisions. With fewer buyers vying for the same properties, you can negotiate with sellers more effectively and potentially secure a home without the anxiety of constantly being outmatched. This shift in the dynamics allows you to focus on finding a home that truly suits your needs and preferences, making your home buying journey a much more satisfying and enjoyable experience.

MORE NEGOTIATING POWER

Benefiting from reduced competition, you stand a higher chance of discovering remarkable opportunities without resorting to extreme measures. Presently, a trend is emerging where numerous homes are being sold below their initial listing prices, accompanied by sellers frequently extending credits towards closing expenses. Even in cases of well-priced homes that swiftly find buyers, instances of offers surpassing the list price are becoming increasingly rare. This stands in stark contrast to the home buying landscape of 2020 and 2021, where buyers often found themselves paying considerably above the list price and skipping thorough home inspections. Regrettably, this risky approach resulted in many buyers experiencing remorse after the fact.

BUILDING EQUITY

With supply still lower than the current demand, it doesn’t appear that home prices are going to go down. Home values continue to remain strong and don’t see any major downfalls predicted for the future. In fact, many experts predict that when interest rates do fall, that home prices can see a gain of as much as 15%, can we say winning!!! In fact, The national average for home appreciation is 3% per year. and despite the slowdown the Denver Metro market continues to see postive home apppreciation year over year.

IN CONCLUSION

The recent news has undeniably sparked some commotion, causing apprehension among prospective home buyers. Nevertheless, if the present moment aligns with your ideal buying timeframe, it’s advisable to seize the opportunity and make the purchase. Passing up on this exceptional chance might lead to regrets later on. Should you opt to wait for interest rates to decrease along with the rest, you could find yourself competing against others in bidding for your dream home, possibly surpassing a budget that brings you peace of mind.

Reach out today so that we can get your home ownership journey started!