Interest Rates Quandary
So, everyone's thinking it but no one's saying it: why in the world would someone ditch their sweet 3% interest rate for a new home with a 5.5% or 6% interest rate? Well, here are a couple of things that might surprise you:
Every market has opportunities if you can spot them. Although we might feel like today's interest rates are at an all-time high, the reality is that we've just come out of a decade of historically low rates. Even though interest rates below 3% are no longer available, there are still strategies to get bring down those interest rates, such as buy downs.
Looking for a home that meets your wish list? Now is a great time to find the perfect match. Homes are staying on the market a bit longer and sellers are more willing to negotiate. You have more time to research and a better chance of getting some concessions when making an offer. So don't settle for less, go get that extra bedroom or bathroom you've been dreaming of!
If you've owned a home since 2019, you're sitting on some serious appreciation! In fact, according to a recent article, the home price index is up a whopping 40% from just three years ago. So not only do you have more equity to play with, but it can also help you snag a better interest rate or put more down on your next home. Pretty sweet, huh?
If you're a homeowner in Orlando and feeling unsure about your options, don't sweat it! Just give me a call and we can chat about it. I'm always happy to help out in any way I can. My cell is (321) 348-8574.- Sarah