https://www.cnn.com/2023/07/25/homes...ges/index.html
"Shopping for a home? There’s a lot working against you right now."
ABSOLUTELY WRONG! The ONLY factor working against potential home buyers is the lack of inventory. If a lender is able to offer a 0% rate, but no home to close this on, the rate doesn't benefit anyone.
The media keeps talking about rates and rising rates. If a buyer is relying on low rates to qualify for a home, then they are not truly qualified buyers. Rates are currently in the 7% range, which is still really low compared to previous decades when rates were upwards of near 20%. Households have grown since previous decades, incomes have significantly grown since previous decades, and though there is inflation to factor in, buying a home has become more affordable compared to previous decades.
"'If something comes up you have only a day or two before it’s gone. I’m showing up the day it goes on the market, making fully underwritten offers, sometimes 20% over [the asking price], and not getting the house.'"
WRONG AGAIN! Home inventory is very limited, however, homes that are listed for sale are sitting on the market longer compared to 2 years ago. Also, buyers are NOT (or should not be anyway) offering over asking price in this current market, and sellers are now more likely to help buyers with credits/concessions as an incentive and move forward with the purchase of their homes.
Dumb@$$ media
