Buy Now?

Are you wondering if you should wait to buy a home because of the rates? I say no!

As of August 2023: Let's just say this: if you need to buy right now, don't worry about the rates. There are rate buydowns and several other concessions that you can negotiate with the seller. During this stabilization in the market, we are seeing sellers really work with buyers right now. That is a major plus! When the rate does go down, you will be able to refinance to the lower rate. Plus! Every day that you are gaining equity, is another day you are getting ahead.

For perspective: from 1972 to 2002 the interest rate did not dip below 6.5%, being at its peak in 1983 at 16%. From our recent Austin Board of Realtors economist panel, rates will not subside until well into next year.

We have to recognize that the percentages that we were seeing during the pandemic were artificial and not natural. When the rates come back down to the low sixes and mid fives, we are going to see a buying frenzy with multiple offer situations. I have a ton a buyers who are just waiting, so get ready. Don't be afraid to buy and get in before this happens. This Austin economy is not crashing anytime soon and prices are plateauing, which is a good thing.

Please reach out if you have any questions at all! Im happy to talk you through anything that you have been wondering. I have a great lender who can help figure out what your buying power is, also.

Deleigh

512-200-9057