May 14th's Street Talk Radio Episode was filled with great information and thoughtful discussions about interest rates, inflation, Seattle market statistics, and a whole bunch more.
I want to share a couple of important takeaways with you from Sunday's radio show.
Don’t wait to buy real estate. Buy real estate and wait.
Today, investors are using cash to buy homes, so they are buying properties without concern about interest rates. So from an investor's point of view, why would you buy now when you could buy anytime?
Investors are buying now with the anticipation of prices going up. Real estate is a process of time.
Folks who endured short sales in 2008 probably now wish they had held their properties—if they could have—because the values would have now doubled or even tripled. Real estate is a long-term proposition.
Waiting and being on the fence may not be the best strategy.
Rates have been running in the sixes. The slightly lower PEC report suggests that the Fed will likely pause the increase in rates which should help continue to stabilize the market.
However, let’s take a look at the Seattle market during this timeframe. Since January, not only is the weather better, but Seattle's median price point has gone up nearly 10%. Many buyers are now ending up in multiple offer situations for their desired homes.
If you are waiting for the market to drop, read this from Chris Davies: It’s not happening. Mark my words. You’re sitting, waiting for a change in the market. Interest rates will start to go down a bit which will incentivize more folks to buy. Then the market will flood with more buyers. Multiple offers will become even more commonplace.
If now is the right time to buy, don’t sit on the sidelines. Call me today! (206) 261-2068