The real estate market today is quite different from what it was just a few months ago. Mortgage rates have risen dramatically which impacts the borrowing power of home buyers. The frantic pace of the past few years has also slowed with homes staying on the market longer than we saw during the last few years.

With all these changes, many potential homebuyers are wondering when the prices will crash. In other words, when is the right time to buy? The housing market is affected by supply and demand. With a potentially smaller buyer pool, the assumption would be that home prices would fall to attract the few buyers still looking.

But prices are not reacting this way in many markets. In fact, the supply of homes nationwide has stayed relatively small, which in turn has helped prices stay steady. The fact is that rising interest rates are affecting sellers as well.

Most sellers are planning to purchase a replacement property. This means that many sellers are reconsidering their own ability to purchase the desired replacement home.

As a result, rather than attempting to capitalize on any lingering seller’s market, many have withdrawn instead, keeping the current inventory low and prices stable.

While it’s difficult to predict the effect of more interest rate hikes on seller’s behavior, homebuyers should concentrate on finding the right property for their needs rather than second guessing the market. It’s always the right time to buy the perfect property.

There’s been some concern lately about another housing market crash. Maybe you’ve read articles linking today’s environment with the Market Meltdown of 2008. Even with the talk of recession, this real estate market is very different and that means that most experts do not expect a crash, just a normal ebb-and-flow slowdown.

There are some significant differences in today’s situation: Loan Qualifying

Heading into the 2008 crash, loans were very easy to find. Almost anyone could qualify for a loan with zero down payment and lower FICO scores. The lending industry was taking huge risks, and this pushed home prices higher, artificially.

With stricter lending policies in place, not only do borrowers need to qualify properly, but appraisals are based on true value, avoiding over-inflated prices.

Housing Supply

Another difference is the housing supply. As home prices soared, so did the number of homes for sale. Currently, there is still a shortage of available inventory for the buyers still looking for a new home.

Equity Levels

Another huge difference is near record equity for most homeowners. The strong housing market during the pandemic pushed home values higher than ever before. Contrast this to the Market Meltdown era of short sales and foreclosures, and it’s clear that most sellers can still afford to negotiate and reap a healthy gain in the process.

What this means to you

The bottom line is that if you are a buyer looking to purchase or a seller ready to move, there is no reason to wait or worry that there is a crash on the horizon. The frantic pace of the market has slowed, interest rates have risen, but opportunities are still available in this market.

Surprisingly, the master bedroom is the most neglected room in the house. It gets overlooked because only the owners typically see it, regularly at least. Since it’s such a private space, a closed door can hide a multitude of bad designs – along with an unmade bed. But it’s also the room that starts and ends your day.

Doesn’t it make sense to splurge a little – and a thousand dollars is even more affordable for most people. Here are 3 great ways to spend $1000 to freshen the most important room in your home. ·

Quick Seasonal Pick-me-up – For a quick spruce up, focus on soft goods and accent pieces. Think about linens, bedding, towels, pillows, rugs. Freshen your room with the modern color themes and neutrals.

Soft tone-on-tone is trending and creates a cohesive, calming effect. Perfect for unwinding at the end of the day. Create a “spa” environment. ·

Embrace Feng Shui – If your bedroom floor looks more like a messy closet, then it’s time to declutter and prioritize. Clear out all the mess and organize your closets and drawers. Remove unnecessary furniture and replace it with organizers that can be hidden behind closet doors. Remove any furniture that isn’t necessary to create a streamlined, simple design that inspires. · Add a Bold Headboard – For a fast change of look, change your headboard. Many options are priced well below the $1000 budget. A headboard can change your whole design scheme from farmhouse to modern to traditional.

Whatever your preference, you can create a private retreat in the master bedroom very inexpensively. For less than $1000, and a little effort and thought, you can create that special sanctuary that allows you to start and end the day in beauty that suits your taste.

You’ve heard the old expression, “Date the Rate but Marry the House.” The idea is that you can always refinance the loan, but the right house may not come around again. But with rising interest rates and falling home inventory, many buyers are wondering if this mantra still rings true.

Should you marry the house at whatever interest rate is available? First, the US lending market has been experiencing record low interest rates. In May of 2000 saw the 30-year fixed rate rise to an average of 8.6% before falling to 6.5% in July of 2008. Historically, any long-term interest rate under 6.5% was considered exceptional.

The pattern of rising and falling interest rates has been repeated multiple times in the past 40 years and likely will continue. While purchasing an unaffordable home with the hope of refinancing quickly into a lower rate is a poor strategy, so is waiting on the home that you like or need if you can manage the payment.

A simple truth of the housing market is that as rates increase, home values usually decrease as more buyers are forced from the market. This offers the opportunity for buyers to find a home previously unaffordable. When rates do decline, they can refinance for even more savings. The concept of “Date the Rate and Marry the House” is not new.

Home buyers in this real estate climate need to be more intentional about the home they choose and the costs incurred. Rates will most likely increase before they fall, so weighing the lower home price to the higher interest rate is a personal decision to be taken carefully.

The minute you list your home, everyone will want to know why. You will hear from your neighbors, family members, and friends. Of course, there is no harm in speaking freely with family and friends but be careful what you tell your neighbors and especially the buyers and their agents who visit your listing.

First, it’s no one’s business but your own. You are not obligated to share personal information with anyone, and you must be especially careful when speaking with potential buyers. If they sense desperation, this will affect the kind of offer they write. A simple, “we are ready for a change,” is a great response to anyone who doesn’t need to know. How you answer is less important than avoiding the wrong answers.

· “I got a new job” – Job offers or transfers are a common reason for a move. These moves often come with deadlines which alerts buyers that you need a quick sale, and may be willing to compromise on price to get one.

· “We need a bigger house” – It’s perfectly understandable that a growing family needs more space. Telling a buyer this, however, may cause them to question the size of the home and if it’s too small for them also.

· “We want to lower our costs” – This may just be a simple downsizing after the kids have left, but talking about affordability is a red flag to buyers. Is the home too expensive? Is the price too high? Energy bills too high? Upkeep too much? Successfully selling a home is more than just marketing.

The best course of action is to limit divulging too much personal information about your situation, but if you do, be mindful of how much you say. Be pleasant, but do not overshare, it may cost you in the end.