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Frustrated Buyers to Remain Hopeful

Whether you’re a first-time homebuyer or a seasoned veteran, looking to purchase a new home is always such an exciting time. The thrill of searching real estate listings for your “must-haves” and touring the potential home of your dreams is what we all look forward to once we’ve settled into adulthood.

I’m here to tell you that despite it appearing to be a seller’s market, you can make your vision a reality so do not despair! Here are some encouraging tidbits to sink your teeth into:

30-Year Fixed Mortgage Rates

These are the most popular loan options people choose when purchasing a home, and they are continuing to fall. This means now is a great time to buy a home so stay positive and keep scrolling through your favorite real estate websites for the property that is calling your name... trust me, your bank account will thank you for years to come.

Don’t Purchase a Home if it’s Not Your Dream Home

Don’t buy something you think you can convince yourself to love in order to take advantage of a great interest rate; you wouldn’t marry with that mentality so don’t buy a home with it either. The low rates that we’ve been seeing for some time are not going anywhere anytime soon so don’t compromise your non-negotiables for fear of losing out.

Let's Talk About Supply and Demand

Supply and demand... we know demand is present, but the good news is that supply is on the rise! There’s been an increase in the number of properties going on the market which means more inventory to choose from when looking to put down roots and make a house your home.

Listen to Grandma’s Advice

Have you ever been told, “patience is a virtue?” I know I have while waiting for my grandmother’s famous homemade chocolate chip cookies to come out of the oven, but nothing could be truer regarding the market right now. Buyers who have been trying to purchase homes have become weary of the waiting game which is why it’s a great time to keep the faith since you’ll have less competition to contend with.

Now is a great time to purchase, but that doesn’t mean you should purchase something that you’re not in love with. August is here and the housing market is slowly starting to change. We are slowly getting out of the seller’s market and the inventory is starting to pick up. With a higher amount of homes on the market and the buyers' side starting to settle down, now is a great time to focus on the home you want instead of the interest rates you desire. The rising inventory is a great sign and will keep homes on the market for a longer period of time.

Find The Right Mortgage

For more than 20 years, Phil have been helping customers achieve their home purchase and refinance goals by providing them with invaluable resources and support.

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Phil Ganz

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