Rita Gray Realtor®

About

I have been in real estate since 2001 and it looks like this year is going to be another crazy real estate year. Home prices are increasing dramatically and it is difficult for first time home buyers to purchase a home in Western Montana. Interest rates are increasing but I still am thankful interest rates continue to remain below 5% (I still remember the days of double-digit interest).

Is it a good time to buy you may ask? I think it is always a good time to buy. Owning your home is one of the greatest assets to establish your wealth. Regardless of what the market does, you have to live somewhere and why not own it instead of renting. Buyers over the last couple of years are becoming desperate due to very low inventory and the increased number of buyers. They are also becoming more creative. We are seeing a return to multi-generational families living together. Some buyers are renting the extra bedroom to a friend which helps both parties.

We have been in a Sellers Market the last couple of years and yes, you may have to put in several offers due to the high demand but home ownership is still worth it. Don’t become discouraged as your multiple offers are not accepted. PATIENCE is key in our market today. Continue to save whatever you can to add to your down payment when your offer is accepted. I know you want to do this on your own, but asking a parent to gift you money towards your down payment is something they would love to help you with if they are able.

You still need to do your logical research and due diligence first as the home you will buy will be more of an emotional decision when you actually find your home and we want to make sure you will not be “married” to your home.

Call or text me with your questions at 406-544-4226 on our current real estate market.