Debby Nesiba

LICENSE: EA.100069997


(303) 917-2353
(303) 858-8100 (Office)

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October 2022 Newsletter - Moving On Up With Debby

Posted On: September 29th, 2022 10:55PM

 

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Things You Need To Know When Buying A House

Posted On: September 1st, 2022 7:27AM

Are you thinking about owning a home but aren’t sure if right now is a good time to buy? In this video, I’m going to help you decide if today is a good time to buy a new home. We’ll look at how things in the market are changing and give you some things to consider when becoming a homeowner.

 

Should You Buy?

One of the biggest questions I get asked right now is if today is a good time to buy. With high interest rates and high prices, should you wait to purchase a home? The truth is that there are a few buyers that are getting really good deals right now—and I'm going to share how.

 

It wasn't too long ago that buyers were having to pay well over asking price. They were up against multiple offers, and it was very difficult to get a house. Thankfully, things have changed a little bit—and these things can work to your advantage.

Changes In The Market

While buyers are a little bit apprehensive to go out there and look, it’s actually a great time to buy. One of the very first reasons is that sellers are also noticing the changes in the market, causing them to drop their prices. This provides you with a great opportunity to take advantage of that fact.

 

As a home sits on the market longer and longer, sellers get more motivated. They’re then willing to drop the prices a little bit and negotiate. So throw your best offer out at a seller and see what happens. One thing that sellers are willing to do more and more is negotiate.

Negotiations

One great way for you as a buyer to negotiate with the seller is to negotiate for them to buy down your interest rate. This helps make your monthly payments lower. Dropping the price doesn't really do a whole lot to your monthly payment, but dropping the interest rate and buying it down will.

 

Another great strategy that we haven't seen in quite some time is assumable loans, which a lot of FHA loans are. We could ask the sellers if they have an assumable loan, and you could potentially qualify for that loan. This would give you a lower interest rate of the 2% or 3% that we’ve had in the last two years.

Be Patient With Rates

One more thing that you need to consider is simply having a little bit of patience. In real estate, things are up and down all over the place—including interest rates. If you get locked into a rate as soon as you know your offer will be accepted, you can still shop.

 

There are 30-day locks and 90-day locks, depending on your lender. I'm watching those interest rates every day, and I'll be able to help you keep an eye on that. We can get you locked in. Interest rates aren't going to go back down to the 2s, at least not anytime soon.

 

So let's just be patient and see where they land here in the next few months. You never know; they might have a day that they're really low. However, you also want to be patient to find the right deal. We don't have to jump on just any old house. Let’s watch for the right house, see if we can get some negotiating going with that seller, be patient, and sit back and relax.

Becoming A Homeowner

I hope this gave you a good idea of some things to consider if you're buying a house. If you have any questions or want to reach out and talk, feel free and I’ll be happy to connect.

 

Don’t forget to subscribe to my channel so you never miss an episode of my show, and stay tuned to see what I feature next!

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September 2022 Newsletter - Moving On Up With Debby

Posted On: August 31st, 2022 11:38PM

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How Much Is Your Home Really Worth?

Posted On: July 28th, 2022 7:07AM

Did you know that everyone thinks their house is worth more than it actually is? In this video, I’m going to walk you through how to determine what your house is really worth. I’ll explain why it’s essential to remove emotions and look at the numbers to price your home correctly for the current market.

 

How Much Is Your Home Worth?

The truth is that the value of your home is not based on what you think it is. Rather, it’s based on what the recent sales are. Don't get mad at me for saying this: your home is probably not worth what you think it is.

 

Regardless of what we think our home is worth, it's only worth what the next person is willing to pay for it.

This means it's not worth what Zillow says, it's not worth what your grandpa says, it's not worth what your neighbor says, and it's not even worth what your real estate agent says. It's worth whatever the buyer wants to pay for it.

 

I wish I could determine your sales price, but that's just not how it works. But don’t worry: I’m going to tell you how to do it.

Looking At The Numbers

The first thing you need to do when you're determining the price of your home is get rid of all emotion. Don’t think of the birthday parties, the kids growing up in the house, and all of the measurements you've made on the walls. This is a business decision and it’s about the numbers.

 

 

When people price their home based on emotions rather than the real numbers, they try to price it way higher than it should be—and that's not a good thing. When your house sits on the market for a long time, people start to question if your house is worth what you have it priced at. This is also why people get lowball offers.

A Market Correction

As of June 2022, our market is starting to see a correction. This means that, as a home seller, your house is not even worth what it was 90 days ago. However, if I were to look at Zillow, their pricing would still be reflective of the prices 90 days ago. This is exactly why they are not reliable.

 

My prediction is that sellers are going to continue to think their houses are worth a lot more than they really are. This is because they're looking at what's on paper, not our current reality. When we're in a market correction like we are now, you're going to want to look at what houses in your neighborhood have sold for in the past 30 days to 45 days—as opposed to 90 days or even 6 months ago.

 

If you are a seller who's wanting to get top dollar for your house, I would highly suggest doing it sooner than later because we are seeing a correction. On the flip side, if you are a buyer, expect to see prices leveling out. You’ll have more negotiation room with the sellers, but don't forget that those sellers are going to be reluctant to come down on prices.

I’m Here To Help

As the market continues to correct itself, remember that you don't determine what your house is going to sell for. Rather, the next buyer is the one that will determine that. The number one way to determine this number is to see what is going on with the market right now, not what's in the past.

 

If you're thinking about selling your house or buying a new one and you have questions, feel free to contact me and I would love to help you with that process. Make sure to subscribe to my channel so you never miss an episode of my show, and stay tuned for more real estate tips in the next video!

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August 2022 Newsletter - Moving On Up With Debby

Posted On: July 27th, 2022 11:00PM

 

 

 
 
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