Searching for a new home or thinking about selling your home? This years housing market is going to bring some major challenges. If you’re keeping up with the real estate market, you may have noticed that mortgage rates have increased over the past few months. And they don’t plan on staying put or going back down any time soon. In fact, experts expect them to continue rising! To make matters worse, there is also currently a lack of inventory in the housing market.
What does this mean for you?
Well, if you are looking to buy a home your options are going to be slim. Meanwhile, if you are a seller you may have to kick it up a notch when it comes to your home’s appearance and condition. You will be marketing your home to homebuyers who made need to settle for less than their dream home. You’ll need to be very persuasive. You will also want to price your home appropriately.
Are you a homebuyer concerned about rising mortgage rates? As Bob Marley sang, “Don’t worry!”
You have options. For instance, an adjustable-rate mortgage may help offset the higher borrowing costs.
Contact me today if you’re ready to take the plunge and buy or sell a home.
I look forward to hearing from you.
Abe Birch
REALTOR
RE/MAX Realty Group
Gaithersburg, MD
Office: (301)258-7757
Direct: (301)258-4265
