Inventory is low, rates are high, and many potential homeowners feel hopeless. Welcome to today’s real estate market!
Rates are rising which makes borrowing more expensive. If you’re looking to refinance, it’s now less likely that a rate & term refinance will save you money every month, Having said that, it’s important to look a refinance as an investment, and there is still plenty of scenarios where now is the right time to refinance. While rates are higher than they were a year ago, rates are still historically low (just ask your grandparents what they paid for their first place), and cheaper than you’ll get in almost any other investment. If you don’t believe me, look at how much the rate hike will cost you on your credit card debt, which you should do everything you can do get ride of that costly monthly balance.
If you’re looking to purchase your first, or your next home, it’s crucial that you are as prepared as possible. You should shop around with different lenders, you should talk to more than one real estate agent, and you never have to go with your lenders realtor or your realtors lender! The spring market will be very competitive and it’s important to get in the best position possible, including getting out of debt beforehand if you can. We’d recommend that you call us first.
We get every person who is interested in buying a home fully approved to buy a property BEFORE they shop with a realtor. This puts a Team Hochberg “TBD Approval” (called that because the property is still to be determined) puts your offer second to cash offers, and allows us to close within 14 business days provided there are no appraisal, title, or unexpected income challenges. We’d love to help but we can’t help if you don’t call 855-563-2843!
We look forward to helping you soon,