1.Recent drop in Mortgage interest rates have given buyers a “new window of opportunity” How long do we have?…not sure.
2.A LARGE increase in inventory of homes for sale has given buyers a much greater breadth of homes to look at. More likely to find what you want, and even more choices coming in Feb. and March.
3.Since the market has recently shifted to more of a “Buyer’s market”, buyers have more power: they can get better prices and can strongly negotiate for more repairs on their requests. Low ball offers are not as offensive any more. A deal can be had!
4.Contingent offers are now being looked at, and many times accepted! This is unheard of over the last 8 years!
5.More concessions are being offered by sellers, such as offering 1-3% closing costs credits! Again, unheard of in the last 8 years! Additionally, sellers are open to “buying down” a buyer’s rate.
6.Smaller down-payments are no longer being ignored and are now being considered by sellers.
7.If you have lower FICO scores and need to use FHA or VA financing, sellers are now open to those programs. This is an unusual window of opportunity.
8.If appraisals come in short, Sellers are now open to making up the difference between sales price and appraisal price.
9.The economy is on sound footing which bodes well for long term future appreciation. Most are saying 2-4% in 2019. Not as big as previous years, but still appreciating.
10.Sellers have been reading for more than 6 years, that THEY have the edge. Now they are reading the opposite, every day, in the paper, on line, everywhere, about “the shift” and buyers can benefit from that.
11.Rent is NOT going down anytime soon. The numbers don’t lie, if you can buy and hold for 4 years or more, buying is a MUCH better plan and the math behind it is undeniable.