Why I'm Buying a Home Now, Despite the Market Conditions
As a real estate agent, I don’t just help others make smart real estate moves—I do the same for myself. I recently decided to sell my home and buy a new one this fall. While the market conditions might seem less than ideal due to higher interest rates, now is actually the perfect time for me. Here’s why:
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1. September is a Prime Month for Buyers
September offers a sweet spot for buyers. With fewer people in the market after summer and an increase in available inventory, I have the opportunity to secure a great deal without heavy competition. Sellers are also more motivated to close before winter, which gives me an advantage.
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2. Higher Mortgage Rates Aren’t Permanent
Yes, mortgage rates are higher than what we’ve seen in the past, but they won’t stay that way forever. If I wait until spring, I’ll face lower rates, but I’ll also face stiff competition. The home I’m buying would likely receive multiple offers and sell for a higher price. By buying now, I’m locking in a great property and can refinance once rates drop, making the short-term higher payments worth it.
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3. The Post-Election Market Surge
Historically, the real estate market surges after the presidential elections. Buyer demand increases and home prices rise as the uncertainty fades. By buying now, I’m avoiding the post-election frenzy that’s expected in 2024. In the spring, lower rates could push prices even higher, making now the right time to make my move.
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4. Off-Market Deals for Extra Flexibility
One of the perks of being in the real estate business is having access to off-market deals. Both the sale of my current home and the purchase of my new one are happening off-market, which allows for a smoother process with more flexibility.
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Conclusion:
When does a real estate agent make a move? When the timing is right. Despite the current market conditions, I know buying now will pay off. If you're thinking of buying, this fall might be the perfect opportunity for you too—before the post-election rush and while inventory is high.
