Not long ago, home sellers were in their heyday, as historically-low mortgage rates triggered a real estate buying frenzy. However, the Federal Reserve shut down the party when it began raising interest rates last year.
Now, it’s not as simple to sell a home. While pandemic-era homebuyers were racing the clock trying to lock in a low mortgage rate and gain a foothold in the market, current buyers are more discerning. Higher prices and mortgage rates have pushed their limits of affordability, leading them to prioritize cost, condition, and overall value.
Continue reading Top 7 Tips to Attract the Best Offers for Your Home →
Mortgage rates have more than doubled in a matter of months. This is making homes much less affordable for today’s buyers. It’s also softening the strong seller’s market we’ve experienced over the last few years. Because of this, it’s important for home sellers to use all of the tools at their disposal to make their homes as marketable as possible. It’s equally important for home buyers to make their home purchases as affordable as they can. One way you can do this is with an interest rate buydown. An interest rate buydown reduces the monthly mortgage payment for the home buying borrower.
Continue reading What Is a Mortgage Buydown? →
Buy, Sell, Live, Love North County & San Diego Homes