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!
Links from the Show
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5 Steps to Get ANY Home Offer Accepted (WITHOUT Being the Highest Bidder)
Why Investors Are Giving Up Their “Golden 4% Interest Rates” w/Caeli Ridge
Federal Housing Finance Agency
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Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-869
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BiggerPockets Real Estate Podcast