{"id":18614,"date":"2023-12-11T13:36:21","date_gmt":"2023-12-11T20:36:21","guid":{"rendered":"https:\/\/nexsteprealestate.com\/?p=18614"},"modified":"2023-12-11T13:43:09","modified_gmt":"2023-12-11T20:43:09","slug":"its-never-been-a-better-time-to-buy","status":"publish","type":"post","link":"https:\/\/nexsteprealestate.com\/its-never-been-a-better-time-to-buy\/","title":{"rendered":"It’s never been a better time to buy!"},"content":{"rendered":"
Dear Friends,<\/div>\n
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Often during my day-to-day conversations, I\u2019m asked, \u201cHow\u2019s the real estate market?\u201d\u00a0My response is \u201cIt\u2019s never been a better time to buy!\u00a0Even though the interest rates are higher, you\u2019re not competing with 5 to 10 other offers and our ability to negotiate better terms has significantly increased.\u201d\u00a0These are just a few reasons to consider buying or selling in 2024 but if you need additional facts please continue reading.<\/div>\n
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The graphs and charts below, provided by Cole Thimsen, Certified Mortgage Advisor at Fairway Independent Mortgage Corp., supports numerous aspects of why you, your friends and family shouldn\u2019t sit on the sidelines to make your real estate dreams come true!<\/div>\n
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Cole Thimsen<\/strong><\/p>\n

Certified Mortgage Advisor<\/em><\/div>\n
NMLS ID 197735<\/div>\n
Direct: 720-960-1380<\/div>\n
cole.thimsen@fairwaymc.com<\/a><\/div>\n<\/div>\n
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Why NOW is the BEST Time to Buy<\/h2>\n

Housing appreciation remains strong with home prices continuing to rise.\u00a0Even amidst the recent 8%+ interest rates, home values have continued appreciating. Q3 2023 showed all-time high readings in home values, with the annual appreciation rate on track for a 6% increase.<\/p>\n

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It\u2019s likely mortgage rates will decrease in 2024. If inflation continues to dissipate and the economy cools or goes into a recession, mortgage rates will likely continue their recent decrease. Historically, mortgage rates decrease during periods of recession.<\/p>\n

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Decreased mortgage rates will drive more buyer demand.\u00a0There is a tsunami of potential homebuyers sitting on the sidelines waiting for interest rates to drop. For every 1% interest rates decrease, 5 million more homebuyers will qualify to buy. As interest rates drop, more buyers will flood back into the market, driving home prices even higher.<\/div>\n
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Home values tend to pull back and are at their lowest\u00a0during the holiday season and winter months.\u00a0When there are less homebuyers present and would-be sellers are more motivated, homebuyers have a distinct advantage and more opportunity to negotiate favorable home prices and\/or seller-paid closing costs.<\/div>\n
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Seller-paid closing costs offer a significant benefit to homebuyers. Seller-paid closing costs or \u201cseller concessions\u201d can be used to cover a buyer\u2019s closing costs and\/or reduce their interest rate and monthly payments. In addition to lowering a buyer\u2019s interest rate for the life of the loan, they can also be used to fund a Temporary Buydown which offers even lower rates and payments during the first few years of homeownership.<\/div>\n
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There is a true cost to waiting,\u00a0especially\u00a0if currently renting.\u00a0The example below illustrates the \u201ccost of waiting\u201d based on a $400k purchase, 20% down payment, and a conservative 4% annual appreciation rate. The lost amortization (the principal reduction of the loan) and the home\u2019s annual appreciation equate to roughly $20,000\/yr. or $1,666\/mo.<\/div>\n
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With the high likelihood of home prices continuing to climb due to low inventory and even more demand, the next few months present a unique opportunity for buyers to have the upper hand when it comes to negotiating home prices and seller concessions, while facing significantly less competition.<\/div>\n
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Please feel free to call me, Cole or let\u2019s join a three-way call to answer any questions you have!\u00a0We\u2019re here to help guide you along the way!<\/em><\/div>\n
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All the best,<\/em><\/div>\n<\/div>\n
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\"\"<\/div>\n","protected":false},"excerpt":{"rendered":"

Dear Friends, Often during my day-to-day conversations, I\u2019m asked, \u201cHow\u2019s the real…<\/p>\n","protected":false},"author":9,"featured_media":18623,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"sfsi_plus_gutenberg_text_before_share":"","sfsi_plus_gutenberg_show_text_before_share":"","sfsi_plus_gutenberg_icon_type":"","sfsi_plus_gutenberg_icon_alignemt":"","sfsi_plus_gutenburg_max_per_row":"","footnotes":""},"categories":[45],"tags":[],"class_list":["post-18614","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-carolyn-erickson"],"yoast_head":"\nIt's never been a better time to buy! - NeXstep Real Estate Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nexsteprealestate.com\/its-never-been-a-better-time-to-buy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"It's never been a better time to buy! 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