BeRealty June Newsletter

​​​​​​Questions You May Have About Selling Your House

Mortgage rates are significantly impacting today's housing market, which might leave you questioning if selling your house now is a good idea.

1. Should I Wait To Sell?

While rates are expected to decrease later this year, waiting could mean facing more competition as buyers and sellers re-enter the market.
As Bright MLS says:

“Even a modest drop in rates will bring both more buyers and more sellers into the market.”

That means if you wait, you might face faster-rising prices and more multiple-offer situations when buying your next home.

2. Are Buyers Still Out There?

The ShowingTime Showing Index measures how often buyers tour homes. The graph below shows buyer activity for March (the latest data available) over the past seven years:

You can see demand has dipped since the 'unicorn' years (in pink), influenced by factors like higher mortgage rates, rising prices, and limited inventory. To understand today's demand, compare it to the last normal years (2018-2019), not the 'unicorn' years.

3. Can I Afford To Buy My Next Home?

If you're worried about affording your next move with today's rates and prices, consider this: you likely have more equity in your current home than you realize.

 As Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), says:

“ . . . those who have earned housing equity through home price appreciation are the current winners in today's housing market. One-third of recent home buyers did not finance their home purchase last month—the highest share in a decade. For these buyers, interest rates may be less influential in their purchase decisions.”

Beltline houses we love:

Home The Biggest Mistakes Buyers Are Making Today

Buyers face challenges in any market, and today’s is no different with higher mortgage rates, rising prices, and limited supply. Here’s how to navigate these issues:

1. Get Pre-Approved Early

A lender will determine what you can borrow for a mortgage, giving you a clear financial picture. Get pre-approved before house hunting to avoid missing out on opportunities to put a bid on a home.

2. Don’t Hold Out for Perfection

Be realistic about your home search. With low inventory, you may need to compromise. Even if a home doesn’t check every box, focus on properties with most of your must-haves and potential for improvement. Investopedia warns:

3. Stay Within Your Budget

With today’s costs, avoid stretching your finances too thin. Discuss with your agent how mortgage rates affect your monthly payments. Bankrate suggests:

“Focus on what monthly payment you can afford rather than fixating on the maximum loan amount you qualify for. Just because you can qualify for a $300,000 loan doesn’t mean you can comfortably handle the monthly payments that come with it along with your other financial obligations.”

4. Work with a Local Real Estate Agent

Buying a home involves many steps, and an agent can simplify the process. They provide legal guidance, market expertise, and support, saving you time and stress. 

Lake investment houses:

Award-winning “urban Mexican” concept to join boxing where Spring, 10th streets meet

A luxury apartment high-rise in Midtown has secured Habaneros, an urban Mexican concept, as its tenant.

The 3,900-square-foot space at the base of the 30-story Sora apartments will house Habaneros, part of the Spring Quarter mixed-use project by Portman.

Anticipated opening is in summer 2025, featuring an expansive patio, indoor-outdoor bar, and chic design aesthetics.

Habaneros, inspired by Mexico City's urban cuisine, has been named Best Mexican Restaurant in Louisiana for five consecutive years.

This will be its eighth location and first in Georgia.