Rates are at 7%. Why the hikes? To slow inflation. But the enconmy is still growing. so guess what - they’ll probably go up again and can reach 9% by the end of next year. If you’re a buyer this is a tough pill - you may be getting a bit of discount in the price compared to earlier this year, but your payment on the same home will be thousands more.


What do you do?


Get your PQ updated with todays rates. You may need to reduce your purchase price, you may need to consider an adjustable rate mortgage, you may need to ask the seller to kick in to buy down your rate….or a combination of all of those things. What’s my advice? Get into something that you can afford.

Real estate ownership = wealth building. Paying rent is a 100% loss.


Buyers Need Homes

I am working with several buyers across many price ranges that are prequalified and ready to buy now, but due to current drastically low inventory, we can’t find them a home.

See what my buyers are looking for here


Curious what your home is worth? Get an immediate answer by clicking below.

GET MY HOME EQUITY REPORT NOW


Taryn Martin is a Santa Barbara Realtor at Sotheby’s specializing in Goleta and Santa Barbara real estate. To view available listings, please visit tarynmartinrealestate.com


For questions regarding the Martin Minute, reports, or any other inquiries, please email: taryn.martin@sothebyshomes.com