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Price Adjustments and the 2023 Market

Lamacchia Realty

Furthermore, potential sellers with covid-era mortgage rates of around 3% aren’t actually listing because it means they’d have to give up that historic rate and trade it in for one that is two to three times higher. Fewer sellers need to adjust their price because, again, it’s a seller’s market. It means they’re down.

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Price Adjustments in this New Housing Market

Lamacchia Realty

For the past few years, with inventory at historically low levels , sellers were coming pretty close to naming their price and buyers were paying. The low rates made it possible to offer more on a home as the cost of borrowing was lower and therefore, sellers weren’t the ones competing, buyers were. The same will be true for sellers.

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5 of today’s biggest real estate myths, busted [INFOGRAPHIC]

Cornerstone

As you prepare to buy a home – either as a first-time buyer or as a seller who is buying a new house – it’s critical to know your monthly budget and exactly how much house you can afford. So, you might have to search for houses in a lower price bracket as rates increase if you want to stay within your budget.

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Houston Housing Market Forecast: Current Data & 2021 Predictions

Houston Properties

Avoid 9 Costly Mistakes Sellers Make. From March to November of 2020, Americans made $1 trillion more than they did from March to November of 2019. For certain parts of the economy, usually in the upper-income brackets, they didn’t carry a lot of debt and they couldn’t go out to spend their money. 2020 ended favoring sellers.