Will Home Prices Fall as Mortgage Rates Rise? Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an
Finding The Perfect Home
Finding the Perfect Home
It seems like finding the perfect home here in Bellingham like many other parts of the country where we are in a high demand but low inventory market, that is not many houses for sale, is not an easy task . As a matter of fact the so-called “inventory" is the lowest it has been in more than 10 years. The absorption rate is about 2 months right now, that means if no new homes came on the market the ones that are there would all be sold in 2 months at the present rate of sales. The way this market is right now any home that is priced right sells quickly and often has multiple offers bidding up the price. One of my buyers bid on a house recently that had 10 offers.
I often find myself telling buyers that just lost out on a home with multiple offers that there will be other homes coming on the market, and you will end up with one you like even better than this one.
While looking back at the homes my buyers didn’t get or the deals that fell apart, I can see that things almost always work out for the best. No matter how in love with any particular home, a buyer will invariably find something just as good or even better. Even though it is a tough market for buyers, the lesson is to hang in there and don’t give up.
Is there a perfect home out there for every buyer? Perhaps there is more than one. Keep your options and mind open, to a different style or maybe a different neighborhood and you may be pleasantly surprised at what you find.
As always if you want to find a good home or have one to sell, give me a call at 360-739-6981
Michael was born and raised in Brooklyn NY. He graduated from Brooklyn College with a degree in Mathematics. His first job out of college was as an engineer tracking satellites. His last career before....