Should I Wait to Buy?

I have been getting asked by many prospective buyers who have read the recent news headlines, asking me if now is good time to buy or to wait. My answer is simple, NOW is always the best time to buy and here is why…

Despite the increase in interest rates (up from historical lows below 3%), the best time to buy is always now. Homeowners have gained large increases of equity over the past few years. This is money that those renting have left on the table. Despite a lot of people wanting to wait until prices cool off, the reality is, they’ll just slowdown from their record-breaking pace. Now is the time to buy before appreciation continues to climb.

The past 100 years show real estate prices have continued to rise and have been appreciated almost 1,000 times every decade.

Realtor.com just released its 2023 Housing forecast also confirming that rates will continue to hover around 7% interest. The estimate for housing market growth is above 5%, which is still GROWTH! If you don’t buy now you will pay more for your home next year.

Here are some ways that current buyers can $ave on their next purchase NOW.

1. Hire an amazing realtor who is an expert negotiator and is well versed on the current market trends and home values.
2. Target homes that have been on the market 90+ days and negotiate the purchase price down from list. Sellers of homes that are newly listed are not as open to lower offers.
3. Negotiate a Seller Credit for recurring and non-recurring closing costs. This can be in some instances up to 6% of the purchase price of the home. This can save buyers THOUSANDS in out-of-pocket costs. The credit may also be enough to buy the rate down too!
4. Have a plan! Whatever your real estate goals are (short and long term) make sure that you have a solid plan with a professional real estate agent who can make sure that you get the BEST DEAL today!

In conclusion, real estate is the #1 way to create generational wealth, especially in California. Real estate can enhance the risk-and-return profile of an investor’s portfolio, offering competitive risk-adjusted returns. In general, the real estate market is one of low volatility.

Start creating wealth and buy NOW! If you are needing to get started, I have a fantastic lender who can help get you get pre-approved and ready to buy!