Let’s Get Clear

So, you’re a first-time home buyer checking out the housing market anywhere in the United States and wondering how you will ever be able to afford the home you want.

 Let’s talk what’s real and what’s not because a lot of the time we take ourselves out of the game before we even step on the court. Did I just use a sports metaphor? I digress.

What’s Real

As of today, January 31st, 2023, the interest rates are hovering on average anywhere between 5.6% to 6.6% depending on loan type, credit score and other personal financial situations. Is it high? If you are comparing it to 2021 then yes, it is higher. If you average all the yearly interest rates from 1971 to 2022 you will see that the average rate is 7.76% which means today’s rate is lower than the average.

 Another fact is that we are still sitting in a market with a housing shortage. Too many buyers and not enough sellers.

What’s Not Real

The constant barrage of fear mongering different media outlets and regular people are putting out daily. You know what I’m talking about. The neighbor who says the markets going to crash, the aunt telling you it’s the worst time to buy and every so-called expert on the nightly news putting fear in the hearts of anyone sitting on the home buying fence.

 What’s also not real is the crowd of social media real estate agents constantly telling you that the time to buy is NOW.

Focus On This Instead

 Start with asking yourself some simple questions. What is right for you? Do you have a secure steady job? How’s your credit? Is there a monthly payment you can afford? If so, what is it? You need to get very clear on what you really want, but more importantly where you currently are.

 You do not need perfect credit, $75k in the bank and make $200k a year to buy your first home. What you need to know is what type of payment you can afford and then based off that what options you have for home buying.

 That is where I come in! I can connect you with amazing lenders and real estate agents all over the United States that can help guide you towards making the right decision at the right time. If you are in Southern California let’s connect and figure it out together.

 If you don’t know where you’re currently at you have no way of preparing for the future. Get started today!