Halfway Through 2022!

We’ve made it! We’re at the midpoint of 2022 and we’ve seen a lot in the last 6 months. Rates have risen, prices have stabilized, and the real estate market has shifted from a strong sellers market to a place where buyers aren’t having to make offers over asking at every turn to have a chance at ANY home.

The more things change the more they stay the same and I want you to know that the market is becoming more balanced. Rates in the 5% range are not historic highs, they are not terrible rates, and they are more representative of a move toward more sustainable interest rates for the country. Yes, although sub-3% interest rates allowed many to borrow more money to put toward their home purchases, they were historic lows—not the norm.

Here’s what all this means.

Sellers may not see multiple offers as regularly as they have in the past 18 months. Offers are more likely to come in closer to ask than they did in 2021 and early 2022. Staging, marketing, and the expertise professional, dedicated teams bring to the table will be more important now than ever. Buyers are going to see some increased leverage in negotiations.

While late 2020-early 2022 was not a historic norm in terms of interest rates and sellers markets, there are still great ways to invest in and profit from real estate—And real estate has a track record of being one of the most sound investments a person can make. One of these options are interest rate buy-downs. If you are a buyer who wants to purchase a home at a lower rate, contact us for more details—There are still ways to invest at lower rates and we know how to make it happen!

45 Homes sold through the 2nd quarter of 2022! The Tarr Team isn’t going to slow down and neither should you! Contact one of our real estate experts today!