Is There a Perfect Time To Buy A House?
There's never a perfect time for you to buy a house. Or is there?
Are there different seasons of every year That is a better season to sell your house in our market? Well, yes, of course there is. If you're going to list your house in January, not that optimal the last couple of years. If you list your house in December or January, you may not get as much and or you may not get a lot of visibility as you would maybe in the springtime.
But what I want to talk about
is when the perfect time to buy a house is so there really isn't a perfect time. There's no perfect storm. There's nothing that's going to create a housing marketthat is going to be in ideal market for everybody. So some people will say, hey, I bought my house a year ago or two years ago and my interest rates 3% or 2%, whatever it is, like I was perfect for me. Yes, it was. But for some other people, they would rather take a 4% or 5% and not have to pay maybe $50,000 over asking price maybe $100,000 or asking price because that was the market that we were in for the last six months to a year, a year and a half. Yes, you're going to have every market's going to have their ups and there's going to have their downs right now. The good thing about this market is that the buyers are starting to become more in control of the market, meaning they're going to be able to get some closing costs paid for and or getting an additional money off of the actual list price.
Now, the downside because yes, it is a downside compared to the last year or two. Is the interest rate, you're going to be at 6%, maybe five and a half to six and a half percent interest rate. But the upside you're going to have absolutely no competition right now. Maybe on a few houses, you will have competition, but you're going to have going to be able to go out and take a look at five, six, seven houses on the weekend or even through the weekday because we have that inventory and you will have that time to finally take a look at multiple houses so you can make the right decision.
So circling back on, when is the perfect time to buy a house? So the National Association of Realtors two years ago came out with a massive article, and they had over a hundred reasons on why people bought their houses anywhere from they were able to save up money. They have $100,000 interest rates are low. Maybe they inherited money, they got a job, new baby, divorce, whatever reasons that you can think of and the number one reason why people bought the house was because it was just the right time for them. It wasn't because interest rates were at 2% or 3% or because they're at six or 7%. It wasn't because they won the lottery or mom and dad were giving them money. It wasn't because there was a thousand homes they could go look at or very little homes. Those weren't the reasons.
So every person has their ideal time. There are people right now that are buying homes, and there is just as many people going under contract right now in September of 2022 as there was in September of 2021, when interest rates were literally two to 3% less than they are now. The right time is, I think when it's in your gut, when you want to become and take that, that step into becoming a homeowner, or if you need to sell and move up or if you sell and move down, need a bigger house or need a smaller house So listen to your gut.
Go ahead and talk to your real estate agent. Talk to myself. Reach out to us. Our experience comes is really helping other people buy and sell homes. Why did Jim sell? Why did Lisa sell? Why did anybody buy or sell? There's so many reasons. And their experience that we have is listening to our clients. And a lot of you have almost the same reasons. Some of you want to invest somewhere. You want to buy your own your first home. Whatever the reason is, there is avenues that we can explore, that we can talk. We really are like counselors. People may not think that, but there is so much talking, so much to listening that we partake in within each and every client that we give our feedback when it's necessary.
So being a homeowner is a massive possibility. Yes, home prices are going are still high. Interest rates are still high, but it's not impossible. Rents will still continue to be higher if you're renting. Those are the people that are going to be suffering for the next two to three years because I think if you can't become a homeowner or you can't buy another house and you're renting or you can't buy a home, then those are the people that will, I think, suffer at the end because they can't afford to buy a home. But rent prices are going up and landlords know that, that their rent prices are going to go up probably another ten to 15% every year. So guys it is possible. I'm not going to say it's going to be easy. It can be easy sometimes. It can be difficult. It can be feel like riding a roller coaster. But please, guys, reach out to us.
Once again, it's all though here with the LeVain Real Estate team with Windermere.
and we'll see you next time.