There are definitely active buyers out there and much stronger than the normal years. Many sellers delay selling their home because they think there are no buyers out there due to the higher interest rates. As per realtor.com and chief economist Danielle Hale, interest rate hikes continue to further cut into buyer's purchasing power, although they appear to have adapted to the higher mortgage rate environment. Interest rate hikes continue to further cut into many buyer's purchasing power and they have adapted to the higher mortgage rate environment. We are coming out of the long curve of the racetrack and back into the straightaway.
Only those buyer's that can afford to buy can stay in the game. As per WRE news August 2023 about 60,000 home contracts equivalent to 15% of the sales market were canceled. This was due to rising interest rates. I had a buyer that had stellar credit and lots of money saved. This is a prominent reason why you need as seasoned trusted advisor as many situations may arise. I highly encourage him to buy your rate down to stay in compliance to close on their home. As of today they are in their home. Yes the buying activity has drastically slowed down, however the market is sure not at a standstill. At this point buying traffic is still strong but taking longer for homes to sell as for in the last 18 months to now September 2023.
The rental market is still strong and the rent is still high, this is why many renters are getting it together to purchase a home. Click link to learn more about buying versus renting /BUYING-VERSUS-RENTING---32819---32836---Dr-Phillips-6-18852.html
It's simple, buyers will always need to buy and those who can afford to move at todays rate are going to move ahead. With rising rent, there has been many that has flipped the switch to desire of being a homeowner which makes plenty sense as for rent is equivalent to paying a mortgage. There are many that are caught in the rental trap and felt or still feel comfortable and there are many that missed the boat as the very low interest rates passed us by. Click link to learn more about rental trap /RENTAL-TRAP---32819---32836---Dr-Phillips-6-23993.html
It is a proven fact that it is better to own than rent. So many benefits you will have when purchasing a home. Clock link to learn more /BETTER-TO-OWN-THAN-RENT---32819---32836---Dr-Phillips-6-24944.html Click link for my free eboom
So why not use a trusted advisor to steer you in the right direction to homeownership.
As a trusted advisor, professional realtor and retired veteran I am here to serve you and on the pulse of the housing market in Dr Phillips and the Central Florida area. Always stay in tuned, educated and connected in this volatile housing market to purchase or for the sale of your home. In the absence of trustworthy up to date information whether its a housing crisis or local housing market, real estate decisions are increasingly being driven by fear, uncertainty and doubt. We as trusted advisors drive the real estate community and always preaching the truth of real estate. I emphasize that education is a must for the community to make sure you are making the right decision.
Part of my job is to keep you educated of the local market and trends, information on the buying and selling process to include real estate common terms and videos. Don't get confused with the news, they talk about national level data, I provide the most current up to date local area data.
So don't let this shifting housing market delay your dreams, data reveals home values typically appreciate over time and that gives your net worth a nice boost. When you are getting help with a home, look for your realtor with the heart of as teacher. If you are ready to start your journey, contact me today at 850 496-6412 to help begin a new walk to homeownership and all your real estate needs.