As we know, most of the news surrounding the housing market this year is focused on the interest rates being higher than the last couple years. Most reports focus on how this impacts your mortgage payments, and how much less you can borrow. While this is true, it’s not the whole picture. For instance, look at this picture and see how the higher interest rates have impacted buyer participation levels and how that actually helps buyers in many ways. While your cost of borrowing is higher, you may not have to borrow as much to begin with! Ad this to the fact that buyers may now ask for repairs brought up in an inspection (you can actually have an inspection!), you can negotiate a lower price as opposed to paying tens of thousands over asking price. You can also ask for seller closing cost contributions without being laughed out of the office! Take a big picture view of the process and the news isn’t as bad as most reports suggest! Let’s start the process of finding you a home now!
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