00:00I've spent weeks talking to real estate agents and economists to get a sense of whether it's a good
00:06time to buy a house right now. The general consensus is that it's a really tough time
00:10for buyers. The main challenge is really just affordability. Typical home price has risen more
00:15than 40% since the start of the pandemic. You've also seen mortgage rates recently spike. Then you
00:21add in the economic uncertainty with tariffs and people are worried about their jobs or they're
00:26worried about their stock portfolio. There are also more homes on the market, which means sellers have
00:31to try a lot harder to get their home sold. And I think what we're seeing now is sellers are being
00:36more realistic about what it's going to take to get their house sold. So they're more willing to
00:41cut prices if a home is sitting on the market too long. They're more willing to cut a deal with buyers.
00:46And there are also these assumable mortgages because it basically allows you to get one of those bygone
00:51three percent mortgage rates by assuming the loan from the seller who sells you the home. While the
00:58experts that I talked to acknowledge that it's a really tough time for buyers and that you might
01:02want to wait if you're feeling uncertain in any way, there are still ways for buyers to come out
01:06ahead. You can negotiate on everything, whether that's the commission to your agent or just talking
01:10to the seller to get a lower price. I think it all comes down to just taking your time today and
01:14really making sure that you are comfortable with this decision, that you can afford it, and that you're
01:18getting the best deal possible.
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