Home buying window opening now?

John Adams talks federal interest rate

The Federal Reserve finally gave us a little relief, dropping interest rates by a quarter of a percent. That may not sound like a huge number, but I believe it was the signal the market was waiting for.

ATLANTA - For the last year, I’ve been hearing the same story from so many of you. You’ve been saving up, you’ve been dreaming big, but those sky-high interest rates have kept the door to homeownership slammed shut. It’s been tough, and frankly, it’s been discouraging for a lot of folks.

Over the past couple of weeks, we’ve seen a change. The Federal Reserve finally gave us a little relief, dropping interest rates by a quarter of a percent. That may not sound like a huge number, but I believe it was the signal the market was waiting for.

Mortgage rates have already started to tick down, and for the first time in a long time, I believe we are looking at a genuine window of opportunity for buyers who are prepared to act.

So today, let’s talk about why this moment might be your moment.

Home Buying Window Opening Now?

Inventory rising; opportunity calls

1. Why more listings in 2025 matter for first-time buyers

For the last few years, we’ve had an inventory problem. A big reason was something called the "rate lock effect." Think about it: if you were a homeowner with a fantastic 3% mortgage from a few years ago, would you be in a hurry to sell your home and buy a new one with a 7% mortgage? Of course not — you’d stay put. That kept thousands of great homes off the market.

But now, with rates beginning to fall, that math is starting to change. The gap between the old rate and the new rate is shrinking. We’re seeing more existing homeowners finally feeling comfortable enough to list their properties.

At the same time, here in the Atlanta area, new home construction is booming, especially for more affordable homes just outside the perimeter. More homes for sale mean more choice for you, less chance of a ten-person bidding war, and a better chance of finding a home that fits your family and budget.

2. How to spot a genuinely good deal in Atlanta neighborhoods

With more homes to choose from, how do you know a good deal when you see one? The answer is simple: you have to do your homework. You can’t spot a bargain in Decatur or a steal in Smyrna if you’ve only seen one house.

My advice: become a local expert. Get out there with your agent and see as many properties in your price range and target neighborhoods as you can. When you’ve walked through five different three-bedroom ranches, you’ll know instantly when the sixth one is underpriced or a perfect fit.

Knowledge is power, and in real estate, that knowledge comes from seeing things with your own two eyes. And once you find that deal, you have to be ready to move quickly. In a changing market like this, hesitation can cost you the perfect home. You’ve got to be prepared to strike while the iron is hot!

3. Two quick tips to make offers cleaner and stronger

When you find that home, you want your offer to stand out. Forget complicated demands and lowball numbers. The cleanest, strongest offer comes from showing the seller two things: that you’re serious and you’re capable.

A. Get fully pre-qualified for your loan before you even start looking. Not just pre-approved, but pre-qualified. This tells the seller that your financing is solid.

B. Show your commitment with a respectable earnest money deposit. This is the money you put down to show you have skin in the game. A larger deposit tells a seller you’re not a flight risk and you’re fully committed to seeing the deal through to closing.

An offer with solid financing and a strong deposit will often beat a slightly higher offer that’s full of uncertainty.

THE BOTTOM LINE

I’ve been in this business a long time, and if there’s one mistake I see people make over and over again, it’s trying to perfectly time the market. They wait for the absolute lowest interest rate possible. But here’s the reality: if the Fed continues to lower rates, more and more buyers are going to jump back into the market. What does more competition do? It drives prices up.

Marry the house; date the rate!

Waiting for a half-percent drop in your mortgage rate might mean you end up paying $20,000 more for the house. You can always refinance your mortgage in a year or two to get a lower rate. You can never go back and change the price you paid for the house.

The window is opening. Get your finances in order, do your research, and get ready. This could be your time.

Until next time, Atlanta, invest smart!