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Some people feel like they missed the opportunity of a lifetime to buy a property when rates were really low over the past couple of years. And with mortgage rates now in the 6-7% range, many buyers feel punished for waiting and regret not buying sooner.

Well, if you’ve been feeling that way, it may make you feel better to know that many people who did buy when rates were lower probably wish they could switch places with you. Including some second home owners in Mammoth Lakes, California.

According to this Yahoo article, three-quarters of the people who bought between 2021-2022 have regrets, such as:

  • They didn’t have many houses to choose from
  • Prices were constantly rising
  • Paying over asking price
  • There was extreme pressure to make quick decisions
  • Not able to thoroughly research the house they were buying, or do inspections

So while lower mortgage rates may sound much more appealing, remember that they also played a large part in causing those (and other) issues for buyers.

4 Reasons Why Now May Be the Time for You to Buy

That said, now you not only have higher rates, but also inflation and a potential recession to factor into your decision whether or not to buy a house now. So no, it’s not a no-brainer, and you should be thinking before leaping into buying a house.

To that end, Apartment Therapy published an article citing the following four things as reasons for you to consider buying in the current market:

  1. Stability – Buying is a hedge against inflation, and stabilizes one of your largest monthly costs against rising rents and rates.
  2. You can refinance – Rates may be higher now, but you can capitalize on lower prices, more houses to choose from, and the ability to do your due diligence… and then refinance your mortgage when rates come down in the future.
  3. Ability to negotiate – Sellers haven’t had to bend on their price or terms over the past couple of years, but as the market shifts, you’re more likely to find a seller who is willing to negotiate.
  4. It could become harder to get a mortgage – Whether or not we’re currently in a recession is subject to debate. But when recessions happen, mortgage companies become more cautious and are likely to make it more difficult for you to get a mortgage.

The Takeaway:

It’s easy to feel like you missed out on the opportunity to buy when rates were at an all-time low. But it’s also easy to overlook the downsides buyers faced when they bought during that time period, and the benefits to buying now.

The market is rarely perfect in every way for a buyer (or seller for that matter), and you have to weigh the pros and cons for your own situation whenever you consider buying. Currently the pros to buying are that you can:

  • Take advantage of house prices stabilizing, or even coming down
  • Hedge against rising rates, rents, and inflation by buying a house
  • Have more houses to choose from
  • Take more time and ability to think about your options and decision
  • Capitalize on more potential for negotiation

However, real estate market conditions vary from one area to another, and even one price range to another. So always consult your real estate agent for more in depth advice on whether now is a good time for you to capitalize on the current market conditions and buy in your preferred area and price range.

Follow Along on Instagram

There are a few different scenarios for homeowners that are struggling to make their mortgage payments or are “underwater” on their homes (and owe more than what it’s worth)—including short sales and foreclosures. While we don’t see many of either in Mammoth Lakes, this may be helpful for those outside the area.

Read More in my blog... Link in Bio...

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Make finding your flashlights easier in a power outage by wrapping glow in the dark tape around the handle. I love simple hacks!

Saved me on more than one occasion!

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Steps to The Village at Mammoth and Canyon Lodge gondola, this totally updated Westin Monache one-bedroom condo is ready for you to enjoy or start renting out today!
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Here are a few reasons buyers should finally be feeling more optimistic. 🌟

Wondering if it’s the right time for you to buy a home? We’d be happy to talk through the specifics of your situation. Send us a DM today! 📲

#sonjasellsmammoth #destinationmammoth #mammothrealtor #mammothcabin #mammothcondo #mammothrealestate #bestagentinmammoth
#homebuyertips #homebuyer #firsttimehomebuyer #realestate #realestateagent
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The Mammoth Lakes Ice Rink is officially open! Come join in even more winter fun! Located near the Mammoth Lakes Library.

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Happy Thanksgiving From Beautiful Mammoth Lakes CA!

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Have you watched homes on your street sell for sky-high prices in the past few years?

It’s tempting to aim high when it comes time to sell your home—but proceed with caution.

The market is adapting to rising mortgage rates, and homes simply aren’t selling as fast. Unfortunately, the longer a home is listed, the more buyers’ concerns begin to grow.

Of course, you also don’t want to sell your home for less than it’s worth.

That’s why it’s important to work with a local market expert. We know the ins and outs of the local real estate market and what buyers are willing to pay today.

The good news? If you’ve been in your home for several years, you are likely to have a sizable amount of equity. That means you stand to make a tidy profit. 🤑

Get in touch for a free home value assessment to find out what your home could sell for in today’s market!

📲 760.914.4664
📧 [email protected]

#realestatetips #housingmarket #homeowner #homesellers #personalfinance #realestate #realestateagent #homesforsale #realestateinvesting #sellmyhouse #mammothrealestate #sonjasellsmammoth #mammothcabin #mammothlakesrealestate #mammothrealtor #destinationmammoth
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Mammoth Lakes - Best Ski Town!
Exciting news. Mammoth Lakes has been nominated for Best Ski Town in America in the USA Today 2022 10Best Readers’ Choice travel awards. But also, Clocktower Cellar has been nominated for Best Ski Bar!

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate #bestskitown #bestskibar #bestskitownusa
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November Market Update!

Link in Bio...

#mammothlakes #californialife #sierra #easternsierra #mammothlife #vacationliving #mammothlifestyle #dailylife
#sonjasellsmammoth #mammothcondos #mammothrealestate
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While I am often accused of being an eternal optimist, there are some valid reasons for having a positive outlook on the current real estate market.

When you’re hearing news about home prices remaining high, and mortgage rates skyrocketing, you might wonder how a real estate agent can possibly claim it’s a great time to buy. Or, on the other hand, you read that sales prices are coming down and it’s taking longer to sell because rates have gone up, it may make you question how agents can claim that it’s a great time to sell.

You might feel like agents always seem to be constantly putting a positive spin on the current real estate market, and think they’re doing it out of self-interest. After all, they only make money if and when someone buys or sells a house, so of course they’d want people to feel like it’s always a great time to buy or sell real estate.

Link to full article in bio.
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"Sonja was so professional and wonderful to deal with. She stepped in when our original realtor bowed out after we drove 5 hours to look at real estate. She stepped in without a single hiccup and then stood by us as we negotiated the purchase price and was with us helping us get the mortgage. She was a full service realtor even doing things not normally done by a realtor. Highly recommend her."

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#sonjasellsmammoth #mammothcondos #mammothrealestate
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Curious about what they are building in town near The Stove restaurant?? A new recreation center is coming to Mammoth Lakes! For more check out my blog...

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Sonja is super excited to help her clients sell their St. Anton condo -- they are doing a 1031 exchange and will be buying in another state. The good news is they still own in Mammoth Lakes and will be around for years to come. A local full time resident is the new owner and will call this place home....just in time for the holidays! Thanks to Lauren Tracey and Sierra Escrow.

#destinationmammoth #destinationrealestate #mammothmountain #monocounty #mammothhomes #monocountytourism #monocountyrealestate @side_realestate
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How can you get the most money for your home in today’s market? 💰

The real estate market is cooling. But it’s still possible to score a great offer if you follow these tips:

🛠️ Make strategic repairs and improvements
🧹 Declutter and depersonalize
🛋️ Stage your home for success
🧽 Prep for each showing
💸 Price your home correctly from the start

Searching for more home seller strategies to maximize your sale price? Check out our blog post!

🔗 LINK IN BIO

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Mammoth Holiday Tip:
Morrison's is a great dinner option for the whole family. A fan favorite is the Barrumundi.

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OPEN HOUSE!
895 Canyon Blvd #34
Mammoth Lakes, CA 93546

Stop by and check out this condo right next door to Canyon Lodge!
Saturday, November 19
2 PM - 5:30 PM
Hosted by Destination Real Estate REALTOR® Danielle Bauman

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Save your empty toilet paper rolls and dryer lint for DIY fire starters. Just stuff the tubes with the lint and you've got free kindling for your grill, campfire, or fireplace.

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Check out my latest newsletter for all the Mammoth Lakes real estate updates and information!

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