Does it feel like the media is trying to scare you?
Don't let negative reports scare you away from purchasing a home.
Keeping yourself updated on the latest news in the market is great, but should your decision to buy or sell be based on what you see and hear from the media? It’s a loaded question, and here’s our take on this topic.
Working in this industry means we constantly see data that reflects the current market, and a lot of the time, the media is two to six months behind with their reporting. The sad truth is that bad news sells. Headlines such as “Interest rates are increasing” and “Home prices are dropping” are both controversial and alarming, and the media will always look for these kinds of headlines because it captures people’s attention.
To set the record straight, home prices haven’t dropped significantly in the Greater Sacramento area since interest rates have gone up. If you’re planning to buy or sell a home now, don’t listen to the news and take a look at your personal situation instead. Decide whether it makes more sense to pay the landlord’s mortgage or your own. Rents can go up every year, but if you purchase a house now, you lock in your monthly payment.
We know a lot of strategies that can help you buy your dream home at the payment that you want. If you’d like to have a conversation about this or want to ask any real estate questions, don’t hesitate to call or email us. We’ll be happy to help!