Feds just raised the interest rate by .75%, but let me tell you what this doesn’t deter me from buying a home. 

Here’s the strategy:

As interest rates are increasing, home prices are dropping, though their values are still appreciating.

There are 9,905 homes on the market. Homes are on the market for an average of 21 days. Sellers are buying down interest rates, lowering prices and including amenities in order to try to sell their homes. 

Now, rates should come back down in 2023. 

Here’s the math: 

With the higher interest rates and the cost of refinancing next year, you’ll maybe take a $7,000 hit and that’s just shouldn’t be cost prohibitive when you think of the lower prices we’re seeing now and the appreciation we’ll see in the near future. Forecasts show Salt Lake City real estate on track to be the next Bay Area. 

Wealth means having a “never renting mindset.”

Call me with any questions 801.243-4544. I’m here!

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Check us out at :

https://www.primerealestateexperts.com/

Welcome back to another episode. I’m here for you with a market update. There are 9,663 homes live on the market today. The market is amazing. Supply and demand is steady.

And since I get this question on the daily I want to answer it here for you. 

Q: What is happening with home prices? 

A: Tune in to hear the distinctions between appreciation, depreciation, and deceleration. Right now we are in a deceleration. Home prices continue to appreciate but at a slower pace. That’s what’s happening in our market today. 

And, important to note is that the new build pace is right where it needs to be as well. We are still seeing housing shortages.  

Back to the process of buying a home: OK now to your finance and appraisal deadline. 

Listen in to learn the process of making an offer, your earnest money, your commitment level and the “outs” that you have as the buyer has before the appraisal deadline. I also go over the purpose of the appraisal, why the bank orders it and how it protects buyers.

Call me with any questions 801.243-4544. I’m here!

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/

You’ve signed the Buyer-Broker Agreement and now you’re buying a home. 

The next step is to get seller’s disclosers. The seller has to tell everything they’ve done to the property. 

Now, we also make sure to get an official home inspection done just in case the seller doesn’t disclose something important. These home inspectors aren’t licensed but they do a very thorough job with the inspections because they are liable to tell us anything and everything about the property, and the inspection includes a walk-through. 

I’ll also cover Radon tests, how they work. Stay tuned for upcoming episodes with guest experts in inspections and testing!

Call me with any questions 801.243-4544. I’m here!

Thanks for tuning in.

Check us out at :

https://www.primerealestateexperts.com/