in five minutes or less I’m going to give you four kinds of buyers who are going to be excited to buy a home in 2023 my name is Peter Chabris with joincincinnatistopteam.com. Let’s get right into it and let’s frame it real quick first by saying showings are down 20 year over year in the fourth quarter of 2022 and uh new sales are down even more alarmingly 16 we expect that Trend to continue and the experts believe we’ll see as little as as much as 33 percent less transactions in 2023. so who are buyers going to be how are we not just going to maintain our sales level but level it up over the next 12 months let’s Jump Right In the first one are deal Seekers I’m sure that you’ve had people that you wanted to work with over the past 24 months who just didn’t want to participate right they like to negotiate and have deals and terms and price and all that stuff they have decided they did not want to participate in this acute seller’s market that we’re coming out of well they’ll be back and they’ll be enforced in 2023 you simply have to reconnect with those people who do didn’t want to participate and say hey the time his Chimes have changed people are willing to negotiate game on let’s go those guys will come out of the word work when you start sharing that message with them.
The Second Source uh are FHA and VA buyers people who are using government sponsored guaranteed loans they could not compete over the last two years with this crazy competition we had for inventory where buyers were making cash offers or conventional and willing to write over asking price and guarantee that they would close the difference in wave inspections and all these things FHA and VA buyers just could not compete well their time has come and they want to be homeowners as well and so for those FHA and VA buyers that you weren’t working with or that couldn’t succeed in today’s market in last year’s Market reconnect with them those guys are going to be ready to purchase homes next year.
The third source is going to come from your favorite lender not every person is pre-approved by A lender starts with a realtor many people start with A lender and get pre-approved first before they shop for homes and frankly that’s the right way it should be done and so reach out to your favorite lender the lender that you’ve sent referrals to over the past few years and just say hey who do you have that’s unrepresented that is pre-approved that hasn’t purchased a home over the last two years I think you’ll be surprised by what you find and you and your lender can together reach out to those people share with them what the opportunity of the market is in 2023 get that pre-approval updated because if obviously interest rates have changed go out and find a home.
Finally the fourth Source expired The Fourth Kind of buyer that’s going to be an opportunity for you in 2023 is actually not categorized by how they like to negotiate or how they’re financing their home it’s actually resetting the mindset of buyers that you’ve already been working with a lot of people are stepping to the sidelines now because of their fear around interest rates and they may have said to you when interest rates come down I’ll re-enter the market here’s the challenge with that thinking um the country is still under supplied with inventory and Cincinnati is no different when the FED Reigns in inflation and inflation starts to go down everybody will re-enter the market and that competition will begin again and when that happens your buyers will lose the ability to negotiate terms that look out for them that protect them we’ll see prices go up and we’ll probably see multiple offers again again and so there’s an opportunity today for your buyers to write a fair deal when they purchase their home and then if they buy now and we’re going to talk in the next video about how we can lower their interest rate until rates start to come down again if they buy now they’re able to do terms that protect them and then when interest rates start to go down again they can refinance and they be they’re able to start their home ownership Journey earlier which means their tax write-off principal pay down and all the benefits that come with owning your own home so hope this was helpful keep an eye out for our next video we’ll talk about how to lower their interest rates for the next two to three years and if you found this valuable please if you’re you’re on our YouTube channel subscribe if you’re on the Facebook Channel please fam this page I’ll see you soon