T
he holiday season may not be the peak time for buying or selling real estate, but it can actually work in favor of those who need to make a purchase. According to Ruthie Kaminskas, a top-producing real estate professional with Compass, buyers shouldn't let current mortgage rates deter them. With interest rates hovering between 6-7%, Kaminskas believes that buyers should focus on finding the right home rather than waiting for lower rates.

    Kaminskas suggests that buyers meet with a lender and real estate agent to determine their budget before starting their search. "Before you start looking, know what you can afford," she advises. This will help prevent buyers from falling in love with a home only to discover they can't afford it. On the other hand, some buyers may be surprised by how much more they can afford than they thought.

    Once in contract, Kaminskas recommends that buyers get a home inspection, which is an essential tool for negotiation. Even cash buyers should consider this step, as it can help identify potential issues with the property and ensure a smooth transaction.

    For sellers, Kaminskas advises working with a trusted real estate agent to prepare their home for sale. This includes conducting a thorough walk-through of the property, analyzing recent sales data through a comparative market analysis (CMA), and addressing any potential problems that could derail the sale. She also recommends staging the home to showcase its best features and creating a clean and attractive environment that will appeal to buyers.

    Ultimately, Kaminskas believes that with the right guidance and preparation, both buyers and sellers can navigate the real estate market successfully during the holiday season.