The market has shifted…

It’s true the market has shifted, but what does it really mean for buyers and sellers? I get this question a lot, everyone is always curious about the state of the market. I have to say that with every market shift people feel anxious, uncertain and want some answers about what is to come. While none of us can predict the future, the good news is there are options for buyers and sellers right now to help buyers feel more confident with the current rates, and sellers more confident in listing their homes.

Talking to lenders over the past few months has been refreshing, as they are educating everyone about some programs that can help buyers with the current higher rates. One great option is the 2-1 Buydown - this buys down the current rate by 2 points for the first year, then 1 point for the next year and then will lock in after two years at the current market rate (when you got the loan). This gives buyers a lower monthly payment for 2 years, and hopefully the option for refinance during that time to lock in a lower rate for the life of the loan.

This is a great seller incentive to offer buyers, too! Your lender can tell you exactly what the cost will be and can be offered in your listing as a seller incentive. Any additional money left over when the buyers refinance goes towards their principal. This option is a win-win for buyers and sellers alike! Let me know if you want to learn more about it!

The shift doesn’t have to be scary, it can be a great time to buy with more inventory and less buyers in the market!