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Helping buyers navigate with upward interest rates

By
Real Estate Agent with Douglas Elliman BRE 02000585

How do we keep our buyers focused and positive among limited inventory, firm prices, and rising interest rates? 

I provide them with the realities of the past several years. Covid brought historically low rates to keep the economy going. People got used to them quickly and still think that 3% will come back. I tell them not to bank on it. Instead, I turn the conversation to inventory and what's likely to occur once rates stabilize and If they come down a bit.  "When" rates stop going up, and everyone gets used to wherever they land, then people who need to downsize or move into something larger will indeed still move. Buyers will come out of the woodwork, and prices will likely increase (at least in SoCal). 

I also help them understand the prequalification process before handing them off to a lender. I want them to go in eyes wide open. I'm there for them whenever they have questions and need to discuss scenarios. 

 

 

Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Great post!  I showed a home this afternoon to buyers, and if they buy will have a mortgage payment over twice the amount because of these dang rates.

Aug 21, 2023 05:40 PM
Russell Dunn

Thanks so much Joan!

 

Very kind of you. 

Aug 21, 2023 06:51 PM
John Pusa
Glendale, CA

Hello Russell Dunn very good helpful report for helping buyers navigate with upward interest rates.

Aug 21, 2023 08:45 PM
Russell Dunn

Thanks 

Aug 22, 2023 07:02 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Welcome to the Rain. Enjoyed

your blog page, and I added you as a following. I would love the

follow back. Also, then we both get 50 points. Bill

Aug 22, 2023 06:23 AM
Russell Dunn

Done. And thank you 

Aug 22, 2023 07:02 AM