Rates Spiked Upward. What do Buyers and Sellers need to know?
Mortgage prices live and die by the bond market. Even so, navigating through this scenario requires a team that knows how to balance volatility and turn it into opportunity.
Buyers:
-Make sure you are fully underwritten-not just pre-approved for existing properties. This allows you to move fast when there is a favorbale dip.
-Builders deals are back and with some price reductions, closing cost credits, so maybe new construction might be worth a look.
Sellers:
-Price realistically. Inventory is up but that doesnt mean a fire sale. Consider a seller credit or a concession to help with closing costs.
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