- Brandon Still - Realtor
- Posts
- Let's Talk Interest Rates..
I Want To Purchase.. But I’ll Wait On Interest Rates
To preface this I know, this is a hot topic. Why would I leave my 3% rate to buy around a 7% rate? The answer is, you are kind of right. BUT, what other options are there? What are we seeing you can take advantage of as a buyer?
Housing Market Stability: Right now, we are seeing stable growth in property prices across many areas in Northwest Arkansas and in some areas continued double digit growth. This means that purchasing a home now can lead to considerable capital gains in the future. Although interest rates may be slightly higher, the potential returns from this price growth could greatly outweigh the costs.
Availability of Diverse Mortgage Options: Today's lenders offer a variety of mortgage products designed to help you buy a home, regardless of interest rates. Fixed-rate mortgages, for example, allow you to lock in a certain interest rate for the life of the loan, offering protection against future rate hikes. Adjustable-rate mortgages, on the other hand, usually offer lower initial rates, and could be a good option if rates decrease in the future. Reach out to me to get in touch with a preferred lender to discuss.
Increased Buyer Power: What we have seen for our clients is the consistent ability while working with us to negotiate closing costs, rate buy downs, and more. Recently, the country’s largest home builder, DR Horton is now offering to buyers a rate buy down down to 4.99% on an FHA loan, and 5.75% on a conventional loan. Depending on the purchase price, this can save you $300-$600 a month!!
To conclude, if you are willing to get creative there are many ways to make this market favorable for you as a buyer. What we expect to see when interest rates go back down in the future is for the market to heat right back up , and homes to go back to being more difficult to secure as a buyer giving the seller the upper hand.
"Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world." Franklin D. Roosevelt
Action This Week - Schedule A Private Showing With Me!
Courtesy of The Limbird Team
First Time Home Buyer
3 Bedroom, 2 Bathroom - $278,000
2505 S D St, Rogers, AR 72758
Exclusively listed by Jose Esparza with PAK Home Realty
Luxury Listing
4 Bedroom, 3 Bathroom - $2,099,000
Custom Modern Home In Downtown Bentonville!
410 SW East St, Bentonville, AR 72712
Exclusively Listed By Angela Parker with Collier & Associates- Rogers Branch
Brandon’s Pick of The Week
3 Bedroom, 2 Bathroom - $325,000
Fully remodeled home right in the heart of Springdale. Spacious living area and priced to sell!
2207 Evelyn St, Springdale, AR 72762
Exclusively Listed By The Limbird Team with Limbird Real Estate Group.
Tune In To NWA Investing Podcast - Episode 17 Featuring A Special Guest!
