3 Key Advantages you have a home buyer in today’s market
3 Key Advantages you have a home buyer in today’s market.
You are probably hearing so many negative news about the housing market today. The market going to crash, the interest rate is super high. Many of them comparing today's interest rate to a couple of months back interest rates, all kinds of stuff. Just push those negative news on the site for a little bit and I'm going to talk about, in this video today that 3 key advantages you have if you buy a home in today's market. Check it out. Welcome to Real Estate for South Florida.
Obviously the reason number 1 is there are more homes for sale now at end of 2022 and the beginning of 2023. And you know that when there is an oversupply or more supply than before and there will be lower demand. So, you have better negotiation power. Look, there's nothing wrong to try, make an offer, try to do the negotiation. If you get it, you are the winner. So don't just give up. Remember, there are more homes for sale today than six months back.
The number 2 advantage you have is the home prices are not likely to crash. Why? There are two major reasons. The flow of buyers in Southeast Florida, Miami-Fort Lauderdale area, there are people who are coming from all over the world, different cities of the country where the home prices are way more than here. There is a least likely home price is going to go down. And secondly, look at the rent prices. People have to leave somewhere. So it's not likely the price is going to crash. So don't wait too long, just don't quit. Take that chance, do that negotiation, make that offer and see what you can get.
Reason number 3 is yes, in the last couple of weeks, few weeks, the interest rates have risen. But again it's going to come down. So if you can take advantage of that negotiation power because it's more homes in the market and get a good deal and get a mortgage, then what happens months from now when the interest rate comes down, you can always refinance it. Interested is nothing like set to the stone or written on the stone. It's going to go up, it's going to come down. So you can always refinance and get a better interest rate. Rather if you wait for the interest rate to come down, guess what happens then more people will be interested. To buy a home. Now again, you get to have, more competition like what you used to have like the last year in 2021 or, you know, a few months back. The question is, do you really want to get into that high competitive buyers' market where people are paying over the list price because the interest rate is low. So this is your chance to seal the deal and then you can always refinance.
My name is Shawn Bhakta from Remax Presidential South Florida Home Finder Team, and I'm here to help.
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