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Don’t Buy Into Market Misinformation
Manage episode 203249780 series 1007465
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The information you hear on social media and the news concerning the market might have you feeling scared of the market, but it could be the product of misinformation.
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Right now is a great time to buy and sell in this real estate market, but there are a few myths circulating that would have you think otherwise. Today, I want to address some misinformation you might have heard and you might now believe. I don’t necessarily mean that it’s bad information, but rather information that is communicated in unclear ways that might prevent those who hear it from being well informed about the market.
Despite the hype surrounding rising interest rates, interest rates are still at all-time lows. Rates are 2.5 points below the market average, based on my tracking the figures over the past 20 to 30 years. You can still take advantage of interest rates—there are mortgage rate deals as well as agent-generated deals, where a good agent can negotiate deals for you.
Another type of deal is the market-generated deal, which is what most people sit around waiting for; there’s a fear of entering the marketplace because people believe that the market can only create so many deals.
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Despite the hype surrounding rising interest rates, interest rates are still at all-time lows.
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If you’re planning to buy or sell a home anytime within the next five years, you should jump in right now. The below market interest rates, the potential to maximize the amount of equity you can pull out of your home, and if you have the right agent, they will help create a generated deal and find a property that you can buy which lines up with your goals.
Many people believe that we’re near the crest of a rising market and will soon be headed back down. None of us has a crystal ball to know exactly where we are in terms of the market crest or trough, but most believe we’re somewhere in upper end.
If you’re thinking of selling your home in the near future, feel free to reach out to us for a free, no-obligation consultation. We’d love to dive into the market and talk about how it could benefit you.
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