I hope you had a fantastic and rejuvenating holiday season! As we embark on a fresh year, I'm eagerly anticipating the opportunities that 2024 holds for us.
Reflecting on the unpredictable landscape of 2023 in the Real Estate market, we are optimistic about anticipated improvements this year, particularly with projections hinting at a forthcoming decrease in interest rates. But what does this mean for prospective buyers?
- Buyer competition buyer competition is expected to intensify. As interest rates decline, a surge of eager buyers, who had been waiting, will actively pursue properties.
- Home prices are likely to rise, given the probability of sustained low inventory. This situation empowers sellers to be more assertive with their listing prices.
- Buyer leverage in negotiation will diminish as homes are projected to spend less time on the market compared to recent months.
In sum,
"Marry the house, date the rate!" Seize the current opportunities to buy while prices are still favorable, and buyers retain some leverage. I have established relationships with astute lenders offering innovative financing options that align with your financial objectives, enabling you to act now while preparing for potential interest rate drops and refinancing.
Please don't hesitate to reach out with questions. Engaging in these discussions now will prepare you for when the timing is right to make your move!
Best,
Noha
