Are you Wondering if You Should Wait Until Interest Rates Drop to Buy?

By Desi Williams

I'm a Real Estate Broker. I'm good at what I do, and I'll be there with you every step of the way, because I don't know any other way. I'm more than just a buying and selling agent, I'm somebody who wants to help you create your next paradise with everything that means – to you.

Are you waiting to buy a home because of high interest rates? You’re in the same boat with a lot of buyers who are hoping for a magical rate drop that will make homes more affordable again.

But here’s the key point that often gets overlooked: we’re currently in a buyer’s market, and that means you have the upper hand. Now is the time to take advantage of favorable conditions and negotiate better deals.

Right now, we’re seeing more inventory, home prices are dropping, and more motivated sellers. In many cases, sellers who are covering closing costs, offering extras, and negotiating hard just to make the deal work.

This isn’t about expecting a $100,000 discount on every house, especially those that are priced correctly. However, when a property has been sitting on the market for 90 days or more, that’s where you can get great deals.

Should you wait for interest rates to drop? I would probably say no. Instead, here’s what I suggest that you do:

• Lock in a great price now, while sellers are still flexible.
• Negotiate for seller-paid closing costs, which keep cash in their pocket.
• Taking advantage of lender programs offering free refinancing within the first five years. That way, you can buy low now and refinance later when (or if) rates drop.

If you buy a home now, you still have the advantage. If rates go down, you refinance. If they don’t, you are still locked in the home at a time when prices and competition are more favorable, and you’re building equity instead of waiting.

If you’re even thinking about buying in the next year or two, this is a conversation worth having. A quick consult can help you map out the right path, whether now’s the time or not. Call me at (208) 431-7609 or desi@soldbyrevista.com. I’d be happy to connect with you.