Are you looking for a real estate agent? Then you should consider a few things to ensure your real estate agent is professional and worth your penny. Sometimes, hiring a real estate agent is an easy process but sometimes, it is not because of multiple choices and lack of time for profile verification. In this article, we have mentioned the most important three things to remember when you hire your real estate agent.
Is the seller’s real estate market a buyer’s market? The straight answer is YES, the seller’s real estate market has become a buyer’s market!
There are many reasons for this phenomenon, but the main one is that buyers can no longer rely on their down payment. With low-interest rates and months-long waits for financing, sellers are able to negotiate more favorable terms. The other reason buyers have fewer opportunities is the current economic slump that is going on in America.
The current real estate housing market has been transitioning to a buyer’s market since about May 2022. At the same time, due to mortgage lending rates climbing high and quickly, it has squeezed out the essential segment of home buyers. In 2021, one could buy a house worth $759,000 with 20% down and a monthly payment of $2500.00. Now, that monthly payment will get you a house worth $476,000.
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The Washington housing market is booming due to increased demand for housing. Tech giants such as Microsoft and Amazon have been here for decades. Still, in recent years, companies like Google and Facebook, amongst numerous others, have set up their operations here as well. This influx of high-paying jobs has led to a spike in demand for housing. In response, large companies are investing in building new offices and housing facilities for their employees.
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Whether it is a buyer’s market or seller’s market, if you want to buy a home, you must know and follow some rules. Following rules is not always that simple yet not much difficult if you tried to do it! So, let’s dig in to know the must-follow rules before buying a home.
