In 2023 there are many real estate challenges that faces all buyers and sellers. Right now cash is really king, this avoids the high interest rates and avoiding all the red tape that comes with borrowing from a financial institute. However if you are borrowing in this new season starting in 2022 it is optimum to have excellent credit as always to get the premium interest rate. It's always good to have clean credit because you don't want to miss the boat on good deals when they come by. Since June 2022 the mortgage interest rates spiked to tame inflation which this process is not over night. Despite this, demand is still there to purchase a home especially for first time buyers and many now have to regroup with a new plan. Many are moving further out and expanding search criteria to accommodate homebuyer's needs. As for we are in this for a housing market correcting. Click link to learn more about housing market correcting /HOUSING-MARKET-CORRECTING---32819---32836---Dr-Phillips-6-22828.html
To try to help buyers, lenders came up with more creating financing within government guidelines and builders enhanced incentives.
As of June 2022 home affordability became a problem as mortgage interest rates started terribly spiking. The higher the interest rates spiked, it knocked many homebuyers out of the housing market. This included active contracts in progress that could not close. Unfortunately this was hurtful to many. The new construction home prices and materials also went up during the pandemic which did not help. Click link to learn more about home affordability /HOME-AFFORDABILITY---32819---32836---Dr-Phillips-6-23503.html
This season we encountered home buyers and sellers truly needed seasoned realtors along with trusted advisors to help navigate through this volatile process. As rent severely was on the rise many renters were caught in the rental trap and trying to figure out how to make the next move. Click link to learn more about rental trap /RENTAL-TRAP---32819---32836---Dr-Phillips-6-23993.html
As a trusted advisor, professional realtor and retired veteran I am here to serve you and on the pulse of the Dr Phillips and 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 it's a housing crisis or local housing market, real estate decisions are increasingly 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 ensure you are making the right decision.
Part of my job is to keep you educated of the local market 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 can 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 a 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.