When the News Talks About a Tight Market, Don’t Believe the Hype!

Now is NOT our winter or summer of discontent.

While there is no doubt that purchasing a home is different in the current interest rate environment, the messaging that sells media time and interest are almost always negative. That absolutely does not mean that first-time home buyers are locked out of the market.

On the contrary.

Negotiating the price and terms of a home have not existed like they are currently for years. Many sellers are contributing to closing costs or buying down the interest rate for buyers while getting a fair price for their home which still appraises if properly priced. Some lenders have interest rate buydowns, and it may be that new construction is a possibility as well.

For example, our Mona Stevenson just closed on a new home for a first-time VA buyer with Michael Deverakis at Holiday Builders. With the buy down to 4.99% for the entire 30-year mortgage and up to $15k in closing cost concessions, the buyer actually got a check back at closing instead of emptying her bank account.

Many builders have recognized that the first-time home buyer or a senior downsizer have needs that weren’t being met. To capture this market, builders have begun building smaller homes that are very efficient and affordable, especially with the interest rate buydowns and closing cost concessions. Newer construction also leads to lower insurance costs.

Don’t get caught up in the headlines. Talk to an experienced Realtor.

Cloud 9 Real Estate Group has Realtors with years of experience to include banking and lending experience, helping people find ways to make their dreams of “right” home ownership work for them.

The reason the word “right” was emphasized is that buying just any home may not be the right home, which could have you looking to change homes too soon. Take the time to really look forward and see what the home decision looks like 6 weeks, 6 months, and 6 years down the road.

Take the emotion out of the decision as much as you can and fall in love with what your world looks like in the house, not the house itself. Then have your real estate professional go to bat and negotiate a deal that works for both parties to have a meeting of the minds.

With the help of an experienced Realtor, the first-time home buyer has the ability to negotiate a home purchase instead of having to pay what or above what the seller listed it for. They are not shut out on pricing like they were before.

Contact us today to learn more about available properties, schedule a viewing, or speak with one of our experienced real estate professionals. We’re excited to help you make the Space Coast your home!