{"id":4040,"date":"2023-09-29T18:31:11","date_gmt":"2023-09-29T18:31:11","guid":{"rendered":"https:\/\/apartmentsource.com\/blog\/?p=4040"},"modified":"2023-10-06T20:59:20","modified_gmt":"2023-10-06T20:59:20","slug":"are-realtors-liars","status":"publish","type":"post","link":"https:\/\/apartmentsource.com\/blog\/are-realtors-liars\/","title":{"rendered":"Are Realtors Liars?"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">How often do we hear from Realtors that <\/span><i><span style=\"font-weight: 400;\">it&#8217;s always a good time to buy<\/span><\/i><span style=\"font-weight: 400;\">? We can\u2019t help but wonder &#8211; is this just sales talk? Are they trying to trick me into buying so they can close a deal?\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">We get it. The idea that it\u2019s always a good time to buy feels too good to be true. Is it possible that maybe, just maybe, Realtors might not be so crazy for saying this?\u00a0<\/span><\/p>\n<p><strong>Let&#8217;s break it down:<\/strong><\/p>\n<p><span style=\"font-weight: 400;\">One of the main determinants of the housing market is the interest rate. When purchasing a home with a loan, the lender determines how much a payment you can afford. That payment increases when the interest rate are higher.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">When interest rates are low,\u00a0 it\u2019s a great time to buy. Here\u2019s why:<\/span><\/p>\n<p><strong>Pros:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You will likely have a lower mortgage payment because interest rates are lower.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bank will approve you for a higher loan, which means you can afford a home at a higher price point.\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>Cons:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The market will be highly competitive because more people will benefit from lower interest rates.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">You&#8217;ll need creative strategies like bigger down payments, waiving inspections, or writing a personal letter to stand out.<\/span><\/li>\n<\/ul>\n<p><b>Recap:<\/b><span style=\"font-weight: 400;\"> When interest rates are low, you have more money to spend, but more competition and less negotiating power..\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">What about when interest rates are high? Is it still a great time to buy? Yes! Here\u2019s why:<\/span><\/p>\n<p><strong>Pros:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">It\u2019s more likely you will have an easier time getting an offer accepted because there is less competition as less buyers are intimidated by the high interest rates.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">If you submit an offer on a home, because of decreased competition, you won\u2019t need to use any fancy tactics with your offer and might even get a deal.\u00a0<\/span><\/li>\n<\/ul>\n<p><strong>Cons:<\/strong><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The bank will approve you for less money due to the effect of interest rates on your monthly mortgage payment.\u00a0<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Because your loan amount could limit your purchase price, the housing inventory you can afford may be slightly limited.\u00a0<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">It\u2019s also important to note that interest rates do fluctuate, so if you purchase a home with one interest rate, you always have the opportunity to refinance when interest rates drop.<\/span><\/p>\n<p><b>Recap:<\/b><span style=\"font-weight: 400;\"> When interest rates are high, you may have slightly less money to spend, but you have more negotiating power and less competition.\u00a0<\/span><\/p>\n<p><strong><i>So, are Realtors lying? Not necessarily.<\/i><\/strong><\/p>\n<p><span style=\"font-weight: 400;\">When Realtors tell you it\u2019s always the right time to buy, they mean it. The ultimate goal of homeownership is to buy a home you love and pay yourself back through building home equity.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The key is finding the right agent who understands the market and keeps your best interest in mind. Fortunately for you, The Apartment Source has an expert team of sales agents.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">For more information, give us a call: 773-404-9900 or email us at: info@apartmentsource.com<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>How often do we hear from Realtors that it&#8217;s always a good time to buy? We can\u2019t help but wonder &#8211; is this just sales talk? Are they trying to trick me into buying so they can close a deal?\u00a0 We get it. The idea that it\u2019s always a good time to buy feels too good to be true. Is it possible that maybe, just maybe, Realtors might not be so crazy for saying this?\u00a0 Let&#8217;s break it down: One of the main determinants of the housing market is the interest rate. When purchasing a home with a loan, the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":4061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-4040","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Are Realtors Liars? - The Apartment Source<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/upgrade.apartmentsource.com\/blog\/are-realtors-liars\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are Realtors Liars? - The Apartment Source\" \/>\n<meta property=\"og:description\" content=\"How often do we hear from Realtors that it&#8217;s always a good time to buy? We can\u2019t help but wonder &#8211; is this just sales talk? Are they trying to trick me into buying so they can close a deal?\u00a0 We get it. The idea that it\u2019s always a good time to buy feels too good to be true. Is it possible that maybe, just maybe, Realtors might not be so crazy for saying this?\u00a0 Let&#8217;s break it down: One of the main determinants of the housing market is the interest rate. 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