Here’s what home buyers and those who dream of owning a home need to know. Inventory’s still tight, but there are great houses waiting to be bought and loved.
Consider a fixer-upper. Instead of looking at houses above your budget, look at fixer-uppers priced below your budget and invest the rest upgrading it. You’ll end up with a home full of your own design choices, and just think of the eventual return on investment. Just be sure to buy smart: avoid fixer-uppers with red-flag issues like a crumbling foundation.
Look at old listings. Old doesn’t always mean a listing has issues—it can also mean the house was priced too high from the start. Some sellers drag their feet before lowering the price, and the house just hangs out on the market. When buyers search only for new listings, they can miss great properties with price adjustments.
Get a sneak peek. Ask your agent about “coming soon” listings for homes waiting to hit the market. Often, real estate agents have the inside scoop on homes two to four weeks before they’re listed.
Don’t let the tight market and interest rates slow down your home buying momentum. There are great homes out there, whether they’re in a hot up and coming neighborhood or your own neighborhood. For you, this year or in the New Year may just mean a new home. You can start looking for it today!