OMG WTF: INTEREST RATES

THE RATES, THE RATES!

I know....

You hear a lot of people say “Date the Rate, Marry the House” which basically means, do whatever it takes to get into a house now, but view your interest rate as temporary & plan to refinance when rates go down.

But here’s some Real Talk: I can’t promise you when (or TBH even IF) rates will go down. Do I think they will? Probably. But if the last few years have taught us anything, I’d say it’s expect the unexpected. So rather than banking on (pun not intended) a possible future rate decrease, I advise my clients to buy a home that they can afford based on the current rates & if rates go down later, they can refinance & reap the unexpected savings. You can hope for a better rate tomorrow, but don’t plan on it. Making what may be the biggest financial decision of your life shouldn’t be done on hope, speculation and emotion.

Question: would today’s interest rates even seem that high if they hadn’t been so low last year?

TIMING: THE MARKET VS YOUR LIFE

Buying a home is both a financial and a lifestyle decision.
Is trying to time the market to buy at the bottom worth putting your life on hold?

We can’t predict what the real estate market will look like over the next 2-3 years, so if you are financially prepared and ready to purchase a home, you should start the process now.

Even the most seasoned investors struggle with effectively timing the real estate market, and there’s never a “perfect” time to buy. A home should be a long-term investment, and if you continue to push off buying until the “right” time comes, you may never achieve homeownership.

Real estate is generally an excellent investment - real estate has one of the most consistent rates of growth of any asset class. Real estate prices fluctuate based on so many economic and geopolitical factors from those on a global scale to super micro local conditions. So while it’s ideal to buy at the bottom of a buyer’s market and sell at the top of a seller’s market, adopting the mentality of waiting to time the market sets you up for failure by conditioning you to make impulsive and emotional decisions in response to what seems like peak timing.

5 REASONS TO CONSIDER HOMEOWNERSHIP

DESPITE THE INTEREST RATES

Rising home prices = more home equity as a homeowner.

Rents are rising nationwide, and buying a house with a fixed-rate mortgage means your monthly mortgage payment will stay the same forever.

Buyer demand has lowered some (compared to 2021-22), which means you’ll face less competition. You’ll also be more likely to get an offer accepted without waiving contingencies or offering over asking price.

Less competition = more room for negotiation.

Start building equity and long-term wealth + stop paying your landlord’s mortgage.

THE MARKET ISN'T THE BOSS OF YOU

We often mistake the overall market trends as definitive of what makes it a “good time” to buy. Local conditions and variables don’t always follow the national market trends. At the end of the day, you need to decide if the current local market is aligned with your financial position and your goals for the future. Real Estate is a solid investment. Long term, there’s no better way for average folx to accumulate wealth and improve financial security.

A GOOD TIME TO BUY is when it makes sense for your life!

WANT TO LEARN MORE?

LET'S DO THIS!

Thinking about buying a house right now can feel overwhelming, but waiting can present challenges too. Let’s take a look at your financial health, your lifestyle goals and the local situation in your ideal neighborhoods to get a clearer picture of whether you should buy now or sit tight for a little while longer.

Either way, having a plan and a goal will alleviate some stress (and save you endless hours scrolling home sites, you're welcome).

LET'S GET TO KNOW ONE ANOTHER

DID YOU KNOW

It’s never too early to connect with me to figure out your home buying game plan. Thinking of buying in 6 months, 1 year, 3 years? It’s time to sit down for a consultation so that you can get on track & stay on track until you’re ready for that set of keys.

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STILL ON THE FENCE?

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Hi I'm Meg & I'm not your mother's REALTOR.

As a former wedding planner, I have a unique skill set that I use to help home buyers navigate both the logistics and the emotions of buying a home. I don't think of myself as a salesperson - I'm your real estate coach, your logistical coordinator, your house hunting BFF, and your cheerleader.

I don't want to sell you a house, I want to help you manifest homeownership.

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WANT TO KNOW MORE ABOUT ME & WHY I'M DIFFERENT? READ MY STORY.

MEGHAN RAMSAY