If you've been holding off on buying a house because of mortgage rates, it might be time to reconsider. Let's break down some of the old rules and what's new in the world of home shopping.
While they did reach alarming heights in 2023, they've been on a downward trend lately, sitting comfortably in the mid-6% range.
Sure, they're not as low as we'd like them to be, but they're certainly more manageable than before.
So, if you've been eyeing that dream home, now might be the time to pounce.
Competition in the housing market is heating up, with homes selling faster than ever before. In some areas, properties are flying off the market in just over a month.
So if you see something you like, don't wait around. Make your move before someone else does.
Now, let's talk about seller concessions.
With more homes hitting the market, sellers are more willing to negotiate. So don't be afraid to ask for closing costs or other concessions. You might be surprised at what you can get.
Gone are the days of submitting your best and final offer on the spot. Instead, consider making a 'soft offer' to test the waters. It's a low-risk way to see if the seller is willing to negotiate before committing to anything. Finally, let's talk about flipping houses.
In the past, it was a surefire way to make a quick buck. But with today's market, it's more about long-term investments.
So, if you're in it for the long haul, focus on finding a home you can see yourself in for the next five years or more.
So there you have it, the old rules of home shopping are out the window.
And if you need some guidance along the way, don't hesitate to reach out to us, your local mortgage professional. We'll help you navigate the ever-changing landscape of the housing market.
We've been helping customers afford the home of their dreams for many years and we love what we do.
NMLS: 575251
Company NMLS: 2510636
*The content provided within this website is presented for information purposes only. This is not a commitment to lend or extend credit. Information and/or dates are subject to change without notice. All loans are subject to credit approval. Other restrictions may apply
4444 Carlisle Pike
Camp Hill, PA 17025
Phone: (717) 514-2869
tim@kostmortgage.com
Powered By LenderHomePage.com
Kost Mortgage strives to ensure that its services are accessible to people with disabilities. Kost Mortgage has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.
Kost Mortgage makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. The software allows kostmortgage.com to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1).
Kost Mortgage accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety.
Kost Mortgage continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.
Despite our efforts to make all pages and content on Kost Mortgage website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. This may be a result of not having found or identified the most appropriate technological solution.
If you are experiencing difficulty with any content on Kost Mortgage website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.
If you wish to report an accessibility issue, have any questions or need assistance, please contact us by sending an email to: tim@kostmortgage.com