September 25th, 2023 5:55 PM by Jane Bartlett
We are a few days into the Fall of 2023 and the weather can't decide what season it is here in Wayne County NC! The real estate market is still hot and and buyers are still buying homes. Interest rates continue to exceed where we saw them a year or two ago. Some buyers are sitting on the fence - thinking they will wait it out - however the longer they wait, the higher the prices of the homes are going and the risk of higher mortgage rates.
We have some very nice homes available so if you are thinking of buying, it's a great time. You shouldn't wait too long though...nice homes are selling quickly and you wouldn't want to miss out. With the fewer homes in inventory now, it does make winning the bid for the home you love a little harder. If there are multiple offers - and we are still seeing that at times- you will want to make your best offer first. If you go in thinking you will have the opportunity to bid higher, the seller may not give you that chance.
We have seen some leveling of the market as far as what sellers and buyers negotiate. Some sellers are willing to pay a portion of the buyer's closing expenses - including a buy-down of the interest rate when needed to get the buyer into the home. That is on an individual basis. It is just another tool used to provide the monies some buyers need to purchase a home.
If you're thinking of selling, consider listing your home as soon as possible to take advantage of the current market. I can get your home in front of buyers to give you a great opportunity for the quickest possible sale. Give me a call and I will guide you through the process. Pricing your home correctly, staging your home, making you home available for showings, are only a few things that affect selling your home.
If you're thinking of buyer, the data shows that may not be the best choice.
Be Safe Have a Wonderful Fall!!!