Evaluating Mortgage Rates and Property Prices | 14min snip from BiggerPockets Real Estate Podcast

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869: Why NOW is The Time to Buy a House (BEFORE Rates Go Down) w/Avery Carl and Caeli Ridge

BiggerPockets Real Estate Podcast

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Evaluating Mortgage Rates and Property Prices

The speakers discuss their expectations for mortgage rates in 2024 and the impact on buying decisions. They emphasize the importance of considering loan size and other variables, and discuss the potential impact of lower rates on property prices.

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If you’ve been thinking about buying a house in 2024, you already may be too late. With mortgage rates dropping, listings increasing, and spring buying season only a short couple of months away, NOW is the time to act before bidding wars start up again. With so much pent-up buyer demand, agents and lenders are already seeing a spike in activity, and we haven’t even gotten to spring. So, if you want to know how to buy a house in 2024, even with fierce competition, we’re here to help.

Avery Carl, short-term rental expert and agent, and Caeli Ridge, President at Ridge Lending Group, join us to talk about what they’re seeing in the market NOW, what their housing market predictions are as buying season heats back up, and whether or not now is even the time to buy. Both Avery and Caeli work heavily with investors, so they know what does and doesn’t work when buying a rental property, NOT just a primary residence.

We’ll touch on the hottest markets that could see the most competition, why rookie investors need to snap out of analysis paralysis to win in 2024, and why this buying season could become red-hot in just a few months. Plus, David and Rob will answer a listener’s question about how to win in a competitive market without having the highest bid.

In This Episode We Cover:

“Buying season” and why spring 2024 could bring back the hot housing market

Most active real estate markets that are seeing inventory fly off the MLS

Why mortgage rates are NOT as important as you think they are

The “great stalemate” and what could cause homeowners to finally list their houses

Whether to buy or wait and the risk of holding out for lower mortgage rates

How to beat other buyers when bidding for investment properties

And So Much More!

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