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Home Buyer, Selling Stephanie Scriven Home Buyer, Selling Stephanie Scriven

Is the Market Shifting?

As your trusted realtor, I believe it's vital to keep you informed about the current trends and potential shifts in the real estate market. Recently, there's been a buzz about a possible market shift, and I'm here to shed light on what this means for both buyers and sellers.

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Selling, Home Buyer Stephanie Scriven Selling, Home Buyer Stephanie Scriven

Why Timing the Market Isn't the Key: The 22-Year Tale of Steady Interest Rates and Soaring Property Values

Did You Know? Between 1971 and 1993, the real estate market witnessed a unique phase: while interest rates stayed remarkably stable, property values didn't just rise — they quadrupled! This period stands out in economic history, offering valuable insights into today's real estate decisions.

Why This Matters: This 22-year period is a powerful example of how complex and unpredictable the real estate market can be. It's a reminder that while market conditions are essential to consider, they shouldn't be the sole factor in deciding when to buy a home.

So, When to Buy?

🏡 Personal Timing Over Market Timing: The key takeaway from this historical period is clear: the best time to buy a home is when you're ready — financially, emotionally, and in terms of your family's needs.

  • Financial Stability: Is your financial situation stable enough for a long-term investment like a home?

  • Family Needs: Does the property align with your family's lifestyle, size, and future plans?

Remember, buying a home is one of life's biggest decisions and should align with your personal circumstances more than the fluctuations of the market.

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Home Buyer Stephanie Scriven Home Buyer Stephanie Scriven

Pre-Approval

Pre-approval is super important when buying a home. A pre-approval tells you how much house you can afford, you need to have this document for offers, and some sellers require pre-approval or proof of funds before allowing you to tour their home.

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Home Buyer Stephanie Scriven Home Buyer Stephanie Scriven

What to Check on Your Final Walk-Through

The final walk-through on your new home is an exciting event. It means you have successfully maneuvered through negotiations, inspections, and financing approval, and are on the verge of signing your closing papers. Most buyers attend the final walk-through with thoughts of furniture placement and paint colors in their heads. But the walk-through is about more than just making sure your favorite chair will fit by the fireplace. Be sure to do your due diligence to make sure there are no issues that should be resolved before you reach the closing table.

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