03/23/2022
🤔🤔Should you wait for the market to crash to buy your perfect home?
👉🏾According to the National Association of Relators & our nation's top economists, the market is being driven upwards by a serious lack of inventory coupled with investors and millennial buyers that are willing to pay well over the asking price of most sellers. Also a large portion of the Baby Boomer generation isn't selling!
📉What about the crash of 2008? Well, that was largely the result of a multitude of bad lending practices. Today, loan guidelines are much tighter. One sign of a market crash is a high rate of foreclosures. According to current data the foreclosure rate today is a drop in the bucket compared to "last time."
👉🏾Here is the truth: In 2008 the interest rates were between 5.29%-6.48% *. Shoot, when I purchased my home in 2003 the rate was 6.25%. Today I priced an FHA purchase loan at 3.5% **. Money is still cheap.
👉🏾So, with the uncertainty of our economy here at home and the war in Ukraine etc. prices just may dip or correct a little. But come on now.
🤔Do you really think the bottom is going to fall out like it did in 2008 considering the current market is on fire with cash investors, strong millennial demand, corporate landlords buying like crazy, bidding wars and houses flying off the market in 0-12 days?
🚫No. That's a hard no.
Women lie, men lie but the numbers do not.
Putting your dreams on hold while hoping for a crash is ignoring the truth.
✅The best time to start building your future equity was yesterday.
✅Call me today to get started.
Nikia Watts
909-583-7236
Realtor/Mortgage Loan Advisor
DRE: 01738120
NMLS: 1293291
* source: Freddie Mac . com
** This is for informational purposes only, and is not intended as an advertisement of interest rates defined by Regulation Z, section 1026.2.
https://www.nar.realtor/newsroom/nar-report-shows-share-of-millennial-home-buyers-continues-to-rise?fbclid=IwAR3NiYZjVqQL4BVR78ltFXApj7Ivs1i4C0x7-GBl6FZ68JObwC-hB0Mhiw4 #.YjuIMItktjg.facebook
The share of millennial home buyers increased significantly over the past year. They are also the most likely generation to use the internet to find the home they ultimately purchase and most likely to use a real estate agent.
