Not everyone is interested in what’s happening in the real estate market all the time like I am. But if you — or people you know and love — are planning to buy or sell in 2023, then it’s useful to keep your eye on these 3 things that can affect your deal:
First, interest rates for buying. You probably know rates have been going up. But did you know there are ways to keep your rate lower than what you see in the news? You can buy the rate down, you can increase your credit score, and/or you can put more money down. All these things lead to a lower interest rate, which can put a home you want within reach.
Next, seller concessions. No one likes to give away money, least of all a homeowner! But seller concessions can help a buyer, and the cost may be lower than dropping your price. For instance, instead of dropping the price by $20,000, a seller can offer to pay $10,000 in an interest rate buy-down, which can benefit the buyer more than the lower price.
Third, strong negotiation skills are a must! In “yesterday’s” market, deals were made in minutes, with very little negotiation. Buyers gave away literally everything, and sellers could name their price and terms. But in “today’s” market, lots of little details are in play. Knowing how to negotiate, and how to stand firm at the right time are critical factors in making deals. Fortunately, you have me in your corner. I’m a knowledgeable negotiator who will stand up for you at each critical point of the deal making process.
Ready to buy or sell? Call me for an appointment to explore your next steps. (718) 399-3320