Amid high inflation, increasing mortgage rates, and limited housing inventory, the headlines make it seem like there’s no good news in the real estate market. But when you listen closely to expert economists and look at your local market, you’ll learn that there’s plenty of opportunity. Let’s take a closer look to understand the complete picture of what’s really going on in the housing market.
Whether you’re shopping for your first home or relocating to a new area, purchasing a home in today’s real estate market can be daunting. However, the good news is that today’s housing market can actually be helpful if you’re a prospective home buyer who knows how to play the game well. When it comes to making a winning offer on your dream home, you must know certain particulars of the home buying process to be successful.
So, let’s look at the top five home buying tips that will help to play the real estate game more effectively and pave your path to home ownership.
With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why today’s housing market is nothing like it was then.
There’s Still a Shortage of Homes on the Market Today, Not a Surplus
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From volatile national market trends impacting local housing markets to unforeseen structural problems, a property’s value fluctuation can be tricky to gauge accurately. However, the good news for current and would-be homeowners curious about a property’s actual value in today’s market is that information is more accessible than ever. So let’s look at some of the easiest, most straightforward options for knowing a property’s actual value and why it’s so important!