There is a lot to be said about today’s real estate market. Home prices have fallen and there’s more inventory, but mortgage rates remain high. So as a buyer, how do you determine your buying power?
Hi, I’m Tanja Odzak, Our East Bay Home brokered by eXp Realty… and I sell homes in Oakland, Berkeley, and the East Bay on both sides of the tunnel.
Home shoppers often ask me, what should I do in today’s market? Should I wait to buy or take advantage of the lower prices and more inventory despite higher mortgage rates? My answer is: If you can financially take advantage of this market, then YEAH, you should buy now and here’s why. In today’s market, buyers have all the leverage to negotiate with sellers. Most homes on the market today are sellers who need to sell, not just looking to see what price they can get on their home. This means they may be more willing to offer more concessions like closing cost credits, rate buy-downs, or repair costs.
More importantly, buyers no longer have to remove all their contingencies and take on all the risk with an offer like we have seen the last couple of years. Combining all of this together gives a buyer more power and leverage to purchase a home with less cash out-of-pocket upfront. In fact, right now with creative financing options it can actually be more affordable to purchase a home than it has been in the past few years. Also, after purchasing, buyers can always look into refinancing when rates eventually come down. Of course, it is best to consult your trusted real estate agent to discuss what is happening in your local market area. Please feel free to reach out to me and my team with any questions so we can help you make an informative decision in today’s market.
And if you’re thinking about selling, ask me about my tiered home selling plans where you get to pick which real estate services you want and the fee you pay… Most of the them offering my super duper digital marketing that… no one else does in our area. I’m Tanja and I sell homes. I offer simplified and transparent choices!
I’m a Top Producing Realtor® in the OAKLAND / BERKELEY / EAST BAY AREA. I’ve been in the San Francisco East Bay Area since I came up to do my undergrad at UC Berkeley (a long time ago!), with a short stint at UC Davis while getting my Master’s. I take my duties as a Realtor® and Fiduciary very seriously, I enjoy educating my sellers and buyers along the way. Putting People, Before Profit.
Why not check out one of my no-obligation, online, On-Demand, virtual Real Estate Seminars?
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