Low Mortgage Rates Are Increasing Buyer’s Purchasing Power

You may be asking how the real estate market is doing? Is it a good time to buy or sell at this point in time? With all the uncertainty in the world right now the answer to these questions may be surprising: There are opportunities out there!

Because the mortgage rates have been falling to impressive lows, buyers have more purchase power and negotiations have turned out beneficial to both buyer and seller. In June I closed Escrow on a condo that received multiple offers and inquiries about other similar properties in the same area.

Sellers in this market can be confident that they will receive offers that are in line with their desired listing price and property value. Buyers will benefit from locking in low-interest rates over the life of their loan and save on their monthly payments. This allows buyers to get more for their money.

Beyond purchasing a primary residence low-interest rates also present an incredible opportunity for people who have thought about buying an investment property but normally wouldn’t be able to afford to and the opportunity for supplemental income.

If you are considering downsizing,  transitioning from renting to being a first-time homeowner, or listing your home, I would love to connect with you to discuss the opportunities in this real estate market.

According to the California Association of Realtors (CAR) “new active listings in California surged 18.6 percent the week ending May 1, the third weekly gain in a row, and a sign that sellers are starting to feel more comfortable putting their houses on the market again.” So if you are looking to buy more properties are coming on the market every week.

I’m here to assist with your real estate needs. Please contact me at (626) 500-5504 or email me at emilie@emiliebroughton.com if you would like to know what your home is currently worth or if you’d like to know where to start on your path to homeownership drop me a line.

With the current pandemic, we have been taking health and safety precautions to provide no-contact transactions and virtual tours. I am happy to discuss your real estate goals and how we can sell your property or help you find a home in a way that works for you.

I look forward to hearing from you. Stay well and safe.