New Opportunities for Buyers: The Changing Real Estate Landscape

By Jason Baker

Jason Baker is the leading listing agent in the entire regional mls for residential and or total units sold, 8 years running. He is a tireless worker, and surrounds himself with the best admin and sales team in Montana...and the results speak for themselves.

I’d like to discuss the rapidly changing market today and why it’s an excellent time to consider the conversations we’re having with our prospective buyers visiting our website or engaging in investment discussions.

One of the most effective strategies to hedge against inflation is investing in real estate. Currently, prospective buyers entering the market are noticing several significant changes. Firstly, many sellers are now eager to sell and are offering closing cost assistance. Secondly, sellers recognize the need to enhance the curb appeal of their homes. They’re proactively investing in upfront repairs, or buyers can request these improvements as part of the transaction through a credit or other arrangements.

Home inspections are back in full swing, and sometimes two inspections are ordered. Extended inspection periods and room for negotiations are now available. Housing inventory has seen a substantial increase, particularly in Missoula County, ranging from 350 to 360 properties. Our business spans four counties, three of which connect to Missoula County. This is a substantial increase compared to the past.

Many sellers are now offering rate buy-downs as rates approach 8%. This assists buyers in securing a better rate. We’re observing a surge in owner financing options, turning the market closer to a buyer’s market. This shift is due to the continued increase in inventory, an unusual trend for the fall season. There’s a growing interest in assuming loans, particularly VA loans and other suitable loan options, which wasn’t the case for a long time. Some mortgages taken when rates were lower can be assumed by new buyers. Additionally, we’re seeing substantial price reductions and lower overall prices in the housing market. This means that buyers have opportunities for more affordable purchases.

For real estate agents, these are compelling reasons to encourage your buyers to re-enter the market. If you’re a buyer, consider working with us. This is an excellent time to explore real estate opportunities. We understand that it may be a challenging market to navigate in the coming months, but it’s crucial to expand your outreach. Sellers should be realistic about their pricing, and buyers should take advantage of the current conditions.

We’re actively looking to expand our property portfolio and can offer cash closings. If you or anyone you know is interested in selling, please call or email. We’d love to hear from you and help you out in any way possible.