There is a lot to be said about today’s real estate market. According to the California Association of Realtors, East Bay home prices have dropped to varying degrees… some MORE SO, some LESS SO, there *definitely* is a lack of inventory, and mortgage rates remain high. So as a buyer, should you buy now? Or wait?
Hi, I’m Tanja Odzak, eXp Realty, and I help people sell and buy homes here in the East Bay.
Homebuyers often ask me, what should I do in today’s market? Should I wait to buy to see if rates come down and inventory increases or take advantage of the market now despite higher mortgage rates?
My answer is: If you can financially take advantage of this market, then yes, you should buy now, and here’s why. In today’s market, buyers have more 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 concessions like closing cost credits, rate buy-downs, or repair costs. More importantly, it’s easier for buyers to hold on to their contingencies in an offer compared to what we’ve seen in the last few years. Combining all of this gives a buyer more power and leverage to purchase a home and it can definitely outweigh the costs of high mortgage rates. In fact, all this combined with creative financing options, it can actually be more affordable to purchase a home now than it has been in the past few years. And NO! that’s not just “some wild talk”, just call me and I’m happy to explain it to you! Also, after purchasing, buyers can always look into refinancing when rates eventually come down.
Of course, it is best to consult with me, your East Bay Real Estate Expert, to discuss what is happening in our market. So call me! I’d love to help you make an informed and strategic decision with your next real estate move, whether that’s selling or buying or both!
And if you’re selling, ask me about my home selling plans.. I took the pain out of negotiating with a Realtor and made it SUPER simple. Really! Choose Silver, Gold, or Platinum- Pick your Plan and Pick your Price. Terms do apply. I’m Tanja and I sell homes. Let’s get you going, Call me today!
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?