If you need assistance, please call 715-891-1236

What does lower interest rates mean to you?

Friday, September 22, 2023   /   by Julie Winter-Paez

What does lower interest rates mean to you?

I just ran on Yahoo Finance article that says at the end of 2023, Q4, we're gonna see interest rates below 6% potentially and into 2024 maybe even lower and by the end of 2024 maybe we're gonna see interest rates in the 4% again. People get excited when they hear lower interest rates because they think they're going to be able to buy more house, but I want to explain something to you if you're a buyer. As those interest rates are a little bit higher right now with buyer demand being lower. There's huge opportunity for you as a buyer to negotiate, to win in your contingencies, to get your inspection rights back and to maybe have the seller buy down some of your interest rates, papay some seller concessions, and you might be able to win in negotiation and pay less for a house. We have millions of buyers that didn't buy this year because of interest rates. So as those interest rates come down, what do we think it's going to happen to our buyer demand, it is going to rise. And what happened last year when we had higher buyer demand and low interest rates, bidding wars, increases in pricing, no rights for buyers, no inspections, etc. 

So if you're a buyer, where do you want to buy? You want to go here in here where you have some rights in the deal, or you want to wait until the time is tipping and everything is in the seller's favor again next year. My name is Julie Paez, I'm a local realtor and I help people just like you buy, sell, and relocate to the beautiful Northwoods of Wisconsin.

JWP Group Featured Listings: Click here!

Find Homes Now: www.BuySellLoveUpNorthWI.com

Find Out What Your Home Worth: Click here!

Northwoods Informational Site: www.thejwpgroup.com