Hi Friends,
Yesterday, the fed raised interest rates by half a percent which was the highest in 22 years. What does this mean? Well, inflation is at an all time high and in order to stop inflation the fed raises rates to slow inflation down. Historically, when rates go up the housing market will start to cool off, but we have not seen any signs that it is slowing down this red hot market.
There are a few things you can do to get ahead in this market: First, line up your financing. Get pre-approved and know your budget! Since rates are changing monthly this will drastically change monthly mortgage payments if you have not locked in a rate yet. Second, know your wants vs. needs. Find out what you can and cannot live without. Knowing this ahead of time will make it an decision in crunch time. Third, find a realtor that is right for you! Make sure they understand what is important to you and most importantly make sure you mesh well with them.
If you are thinking of buying or selling a property I would love to help. I am always here to answer any questions you may have.
Check out Barronestates.com for more information on selling, purchasing or leasing your next home.
I will do my best to assist and educate you in finding your place called “Home, Sweet Home” for now or at last!!
Warmest Regards,
Oriana