Interest Rates climbing - issues?
With the new home buyers that we represent, we do happen to get questions asked from time to time that are worth sharing. Here is one of the latest from a couple that was using one of our New Housing Agents to buy a new Santa Clarita home.
"Connor, do you think the new housing is becoming too expensive with the rise in interest rates?"
Depending on the local market that is being referred to, will depend on the "right" answer to that question.
Rethinking buying real estate...
During the past several months we have seen a rise in interest rates from 3.25% to 4.5 and more. That rise in interest rates is wreaking havoc on the local Santa Clarita Real Estate Buyers.
They are tapping out and having to re-think their home buying strategy. Because of this, the more "inter connected relationships" your local SCV realtor of choice has is going to directly influence your home buying success.
Networking amongst the wolves...
If they are Networking like it's 1999 - or at least like their business depends on it, they are going to be the BEST in which to work with.
They will be able to get for you information on real estate listings that have not hit the market. They could also get your offer accepted on a property without the necessity of the seller having to view other offers that had been submitted.
How does this apply to new housing? Being dug in at the New Housing Centers in the Santa Clarita Valley cities, makes all of the difference in the world.
It Pays to network
Recently, this paid off big for one of our new home buyers in the way of "notification". It seems they were registered by your New Housing Agent, Giuliana, for an upcoming phase.
That "upcoming" phase had them a bit "tapped out" with regard to the prices in which they were going to be selling those new homes for.
Giuliana received a call about a home(from one of her "connections" at the new home center), that was part of the preceding release, that was about to BOM. What is BOM?
Our New Home Buying couple was able to get a home for $20,000 dollars less than the next phase and were elated to say the least.
Sellers choose wisely...
Networking pays off with regard to real estate sellers too. Other agents bringing the totally frustrated real estate buyers that have been beaten up by the current market, ready to offer the amount of $$$ that it will take to buy the home.
These types of "dealings" only happen through agents that are connected together and that trust one another.
Be safe - search well and when you are ready let the REMAX of Valencia CA's Paris911 Team know.