Buyers, buyers, buyers! Where are you?
It's a good time to buy now, hear me out.
Hey, this is Doreen Tando from Austin 101 Realty.
You know, we have been talking to you a lot or sharing a lot of information to help you understand Austin as a growing market, or give you some investment tips, for home buyers or sellers.
Prices are not really going down dramatically, you know towards the end of the year.
So people are saying they are holding their positions and really want to see the market will hit the bottom. When is really the bottom? We do not know. But according to this year’s trend, you know after first quarter start from April till end of year we do see the price, has been decreased.
So we are seeing actually for buyers before end of year, you are going to see very good price or, some new home builders that even giving more incentive to buyers.
So a lot of times we see really by end of the year the prices are going down.
And in the beginning of next year, the price is going to really rise up a little bit.
The second point is interest rate is not going down that fast.
So as the interest rate is slowing by end of year if you can lock into a good rate to go in to buy.
That's going to be a great idea compared with next year when the interest go up.
If you really need a house for yourself go ahead to lock in the current rate, okay?
If the next year interest go up then you are going to be happy you lock it as current rate.
But if the interest should go down and just refinance later.
Remember, date the interest but marry the house first.
As buyers, there are really a lot of options for you to buy.
So as close to September right now the MLS shows there are more than 10,000 houses on the market compared with, you know early beginning of this year.
It's really a very good healthy market for the buyers.
You do not need to deal with multiple offer.
You do not need to think about, you know increase so much over asking prices.
Instead, when the seller puts their house on the market they are really putting them at market price or below market price and since there are so many houses on the market the buyers do have more choices to look okay and longer times than you really can look around different options, neighborhoods.
So buyers are actually in the higher advantage.
As buyers right now, you have stronger negotiation room.
First, is they have more choices. The second, is if some houses, they are staying on the market more than a month.
Okay? Then definitely the sellers are more in the desperate, you know, situation.
So the buyers, as the negotiation part, the buyers actually have more to bring down the prices.
Okay? And sellers actually they will be more willing to work with you or new home builders.
They are willing to give you more incentive, help you to get into the contract and then finish the concessions.
So buyers, your negotiation powers are much stronger for the current market.
And if you are a renter, if you are thinking about should you renew or should you buy a house actually a lot of the rent actually is going to continue to increase.
The landlords actually need to pay more public tax or insurance, everything.
As for the tenant, it is better for you to prepare yourself to buy a house yourself instead of paying higher rent each year.
Because when you buy a house pretty much, you can have a fixed rate. So your mortgage rate will be fixed and your mortgage amount actually will be more, you know stable compared with, you know, keeping crazy rate.
As for sellers, it's also a good time to sell. A lot of times when I go on listing presentations I like to tell the sellers right now the market is kind of similar to pre-covid situation.
Of course if you compare this year and last year the appreciation definitely is coming down a little bit.
The appreciation speed is slowing down, okay? It's more stable.
So you are still sell high.
Like if we are comparing about the future of Austin if you are talking about three years, five years the appreciation we think for Austin market still continue to go up.
We would not say you are selling at the highest point because nobody really can guarantee the future.
But if you are selling now, we think, you know you are still selling at high price point.
After a few points of my explanation, do you feel more confidence that you know, to make a choices toward to selling your house or to buy your house?
You have any questions? Then comment below or message me.