The Changing Real Estate Market: What You Need to Know

It is no secret that the red-hot real estate market of 2021 is long gone. 2022 did not end up with many people feeling warm and fuzzy about the real estate market either. But that does not mean you can’t achieve your real estate goals in 2023! Now more than ever, it is essential to work with trusted professionals who will help get the job done in this unpredictable, slightly scary, very changeable real estate market.

Yes, mortgage payments are higher today than they were this time last year. But they are still great rates historically, at roughly 6%, give or take. Talk to your local mortgage broker about different programs that can help you get into the home of your dreams! Are you or your spouse a veteran? Time to inquire about VA loans! There are excellent opportunities for lower interest rates and lower down payment programs for our veterans. Just one of the many ways our country can thank you for your service.

Are you or someone you love a first-time home buyer? There is good news for you too! New Jersey offers $10,000 grants to first-time home buyers, as well as lower down payments. There are always options; you just need to know where to look for them.

Something that remains the same in this market is the extremely low inventory. There are still more buyers out there than houses for sale, which is a good thing for sellers. Homes are still selling quickly if priced and marketed correctly.

There are always opportunities in the real estate market if you are looking to buy or sell. A lot just depends on the team you have by your side. It is imperative that you work with a team of trusted real estate professionals. From your real estate agent, to your mortgage broker, title company, and your real estate lawyer. With a strong team, you are that much more likely to make it to the closing table and have a smooth transaction. And what does this mean for you? Well, it means that you can still end up in your dream home in 2023! Reach out to us today to discuss your real estate needs, wants and dreams!