What does today's slower housing market mean if you are buying or selling? In this Market Minute, Leah Brown walks through what both sides should keep in mind right now.
For sellers: price realistically and listen to the market
A slower market means pricing realistically, paying attention to market feedback, and being open to terms that help a buyer make the purchase work.
For buyers: a slower market can create opportunities
Even when mortgage rates feel high, a home that has been sitting without offers may leave room to negotiate. Depending on the home and the seller, that could mean:
A lower price
A credit toward closing costs
A rate buydown
Help with repairs
The best option depends on your priority: a lower monthly payment, or keeping more cash in your pocket.
Well-priced homes still draw competition
Well-priced, desirable homes can still attract competition, and a concession doesn't automatically make a home affordable. But when buyers and sellers are realistic about today's market, there is still room to find solutions that work for both sides.
Thinking of buying or selling in Granite Bay or the surrounding communities? Leah Brown can be reached at (916) 622-6316.
