Taya’s 2 Cents: stop waiting for rates to drop, and start paying attention to the homes that ARE hitting the market 👇🏼…

Taya’s 2 Cents: stop waiting for rates to drop, and start paying attention to the homes that ARE hitting the market 👇🏼

Here’s why.

The average LA homeowner stays put for about 20 years. (I know. Shocker.)

Add in the fact that so many of them are sitting on a TON of equity… and locked into those sub-3% 30-year rates from 2021 (remember those?)… and they have very little reason to list.

So that flood of inventory everyone keeps promising? I’m not holding my breath.

But here’s what nobody’s talking about 👉🏼 there are fewer qualified buyers right now too. Fewer homes, yes. But also LESS competition.

And people will ALWAYS be making moves, no matter what rates are doing because of the 5 D’s:

Death. Diamonds. Diapers. Downsizing. Divorce. 🙃

One more thing… watch your LOCAL market, not the national headlines. LA is a completely different animal than Texas or Miami (I could keep going, but you get the idea).

If I were buying in the South Bay right now, here’s what I’d do:

1⃣ Talk to a mortgage broker
2⃣ Shop your interest rate
3⃣ Ask about rate buy-downs and other buyer incentives
4⃣ Run the actual monthly payment (I’m talking principal, interest, taxes, and insurance… and don’t forget, projected utilities every month because those can drastically vary depending on the size of the home and overhead maintenance cost)
5⃣ If you can COMFORTABLY afford it, shop in that price point and make a deal with a seller who needs and wants to move now

Because when rates do drop? Sure, there will be more inventory. And even MORE buyers fighting over it.

Save this for when you’re ready to start looking 🤍 and send it to the friend who keeps saying “I’m just waiting for rates to drop” 👈🏼

Источник Instagram: tayadicarlo