The Expert Podcast

• The Current Housing Market: A Possible Recession
  Experts suggest that the housing market may be in a recession, offering buyers a rare opportunity to get a good deal on real estate.
• Why It's Better to Buy Now
  Unlike previous years when bidding wars and high prices were the norm, buyers now have more options and better terms. In 2021 and 2020, buyers had limited choices and often had to settle for a house that wasn’t their dream home. Now, there are more properties available to choose from.
• More Options and Inventory
  In the past, buyers were limited to one or two homes and had to act quickly. Today, more inventory means buyers can take their time, consider multiple options, and avoid making rushed decisions.
• Contingencies and Inspections Are Back
  Buyers now have the option to include contingencies in their contracts, such as a mortgage contingency and the ability to conduct inspections. This helps avoid buyer's remorse, as many recent buyers have regretted not being able to inspect properties properly before purchasing.
• The Importance of Finding the Right Home
  Buying a home is a long-term commitment, and it’s essential to choose one that truly fits your needs. With more inventory available, buyers now have the chance to find a home that matches their preferences in terms of floor plans, neighborhoods, yards, and views.
• Stagnant Prices and Interest Rates
  While prices may not drop significantly, they are unlikely to increase much either. Interest rates are higher, but if they decrease in the future, buyers can refinance. It’s more important to focus on securing a home that fits your needs rather than stressing over interest rates.
• Long-Term Value of the Home Over Price
  The house itself is more important than the price because it’s something you’ll live in for many years. Unlike a budget that can be adjusted, you can’t easily change your home once you’ve purchased it, making it crucial to find one that truly fits.
• Opportunity for Buyers
  Experts suggest this might be a unique moment for buyers to enter the market. With more options available, buyers can find a home they love, avoid the stress of limited choices, and potentially lock in a good deal before prices start climbing again.