Are Interest Rates Going to Hit 6%?

The fear of 6% interest rates may be unfounded, but rate hikes still affect buyers and sellers alike. Here’s how.

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There was a lot of speculation in late 2018 as to where interest rates would end up in 2019. Many thought that rates were incredibly volatile and that we’d see them hit 6% this year.

Well, I don’t believe that’s going to happen. In fact, the highest we’re likely to see is around 5.5%. While buyers are waiting for home prices to flatten out or drop, they fail to realize that the savings they find will be at the cost of higher interest rates. By waiting, they could end up paying more money for less home.

The best time to buy or sell may soon be ending.

But yes, buyers—rates are volatile. Though they shouldn’t surpass 5.5%, you should still speak with a lender to see what you should do. Sellers, interest rate fluctuations affect you too. Who will buy your property if buyers can’t qualify for loans because rates are too high?

The best time to buy or sell may soon be ending, so I suggest you reach out to me to be put in contact with a lender, get any questions you have answered, and learn more information about your specific situation. I look forward to hearing from you soon.

It’s Time to Switch Up Your Listing Strategy

If your first attempt at listing wasn’t successful, it may be time to try a different approach.

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Have you ever tried and failed to sell a home? Whether the listing simply expired or you had to cancel it for one reason or another, this can be a very disappointing experience. If this sounds familiar, let me ask you an important question: Is it time for a change?

Before I cover a few of the tactics you can use to get back on your feet after a failed listing experience, allow me to say that sometimes the inciting circumstances are out of anyone’s control.

Don’t let a failed listing attempt stop you from trying again.

However, between 50% to 60% of the time, the reason a home failed to sell was that either the seller or their agent did not rise to the occasion. If this was the case, don’t let it stop you from trying again. Just make sure that you try a different approach. Sometimes, the best solution is to hire a different agent. Choosing not to relist in a declining market, like the one we’re in now, means you’re just bleeding money.

If you have any other questions or would like more information, feel free to give my team and I a call or send us an email. We look forward to hearing from you soon.

Are You Choosing a Winner?

Not all buyers are equal. If you want to choose a winner, there are five steps you and your agent should follow.

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Selling a home? Click here for a FREE Home Price Evaluation

When it comes time to sell a property, the agent you choose to stand by your side will have a major impact on your success. But your choice of agent isn’t the only important decision you’ll make during the listing process. It’s also essential that you realize not all buyers are the same. To get the best deal, you need to choose the best buyer. So are you choosing a winner?

It isn’t as easy to choose a winning buyer as you might think. On our team, we have a five-step process we follow when examining various offers with our sellers, and we’d like to share that process with you today:

1. We have a conversation with the buyer’s agent. When we talk to a given buyer’s agent on behalf of our seller clients, we do so to learn more about whether they’re the right fit for the listing.

2. We obtain an introductory letter. When a buyer or their agent includes a letter to explain their motivations, desires, and goals, this bodes well for the strength of their offer.

To get the best deal, you need to choose the best buyer.

3. We pull the sales activity of the buyer’s agent. Determining whether a buyer is qualified is important, but assessing the quality and experience of their agent is crucial, as well. If the agent has a very limited track record, for example, this could pose problems later on in the deal.

4. We determine if the buyer is pre-approved. It’s good to have a willing buyer, but it’s even better to have one that is ready and able. A pre-approval letter verifies that the buyer has spoken with a lender and has provided evidence of their ability to move forward with the purchase.

5. We ensure that the offer is clean and complete. If an offer is missing details or is poorly presented, we can expect the buyer and their agent to conduct other aspects of the deal with a similar lack of attention.

Each of these steps helps my sellers, my team, and me choose winning buyers.

If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.

Is Your Agent Submitting a Winning Offer?

Today we’ll be tackling an important question: Is your agent (or your buyer’s agent) submitting a winning offer?

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Price Evaluation

I’ve got an important question to ask you today: Is your agent submitting a winning offer?

Let me explain what I mean. As a listing agent, my goal is to not only help my sellers get the best price and terms, but also to create a smooth and easy-flowing escrow experience. Of course, occasionally circumstances beyond anyone’s control will arise, but relisting a property after a deal fell apart in escrow is generally something we want to avoid.

Our team knows what it’s like to work on behalf of buyers, which means we also know what our seller clients can feasibly expect from the offers they receive.

We include a completed residential purchase agreement with every offer we submit on behalf of our buyer clients, and we expect this same level of due diligence from the buyers who approach us when we’re representing a seller. One of the best ways to avoid having a deal fall through during escrow is to only accept offers from buyers who have proven themselves to be ready, willing, and able. This means they should be fully pre-approved, should be willing to include a completed residential purchase agreement, should be capable of producing proof of funds, and, as a bonus, should be able to explain what this purchase would mean to them.

When buyers and sellers both give it their all, deals are far more likely to succeed.

When we represent buyers, for example, we like to include an introductory letter with each of our offers. This letter explains who the buyer is, what attracted them to the home, and why it would be perfect for them.

We go the extra mile in creating a “complete package” with every offer we submit on behalf of our buyer clients, and so this is the same level of preparation and work we expect to see from potential buyers when we represent sellers. If you’re buying, you need to make sure your agent is submitting a winning offer on your behalf. And if you’re selling, you should expect the offers you receive to be the complete package we described earlier. When buyers and sellers both give it their all, deals are far more likely to succeed.

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon. Happy selling!