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Renting Vs. Buying is it over? (don't be fooled by rates).

Updated: Jul 21, 2022

Now that interest rates have moved higher what can you expect when renting in Seattle ? Well first like most things financial there is an inverse relationship

meaning as interest rates go up the price of housing goes down giving the remaining buyers much more power than previously had and thus making sellers more so to negotiate because fewer buyer remain after the rise in interest rates. So this means that the price of housing will fall to compensate for the rise in rates, sellers will strategically price a selling home to "move it" on the market.

So what does all that have to do with renting ? Well trust me the connection is there and its a pricey one, if you can't buy then you have to rent and renting in Seattle has increased by 30% from this time last year and rental companies know this so they shamefully take advantage of those who remain renting as the appearance of buying a home has slipped away ... so they think ! Buyer's still wanting to enter the market shouldn't be as concerned regarding rising rates but being aware is important of the impact of rising rates but this still does not mean your home buying days are over!

So if rent is still increasing then why not attempt to buy? what do you have to loose other than throwing money towards something you will never own versus working together to find options to buy a home.

As a Washington State real estate consultant and agent I have plenty of tricks up my sleeve to get you into the home of your dreams especially when it comes to financing options!

1- Don't think your priced out of the market as I work with over 200 lenders, all of which offer various means and plans to get you into your home.

2- Understanding the market as so many think that they are priced out of the market this mens fewer buyers and if fewer buyers then the market will compensate buyers who do want to sell with strategic pricing. This also means this is the time for negations!

3- Knowing Me!!- kidding but not, having an agent like myself who has connections with lenders and various programs with the understanding to get you across the finish line is always going to be your best advantage!

lets find options that really can and will work for you!

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