In this must-watch video, San Diego Realtor, Tom Lux discusses the impact of soaring interest rates on the real estate market. Is it a wise choice to buy now? Don't miss out on being ahead of the curve! Take action today and potentially save on your real estate investment.

Interest rates are the highest they've been in decades. Should you really be buying in a market like this? I'm Tom Lux of Whissel Realty Group here in San Diego and I want to talk a little bit about the interest rates that are really, really high and whether it's a good idea to be buying a home now. I want to be straight up with you and I'm going to say yes. Oh, you're probably thinking, "Cheesy salesman, it's buy, buy, buy no matter what the rates are high or low." Let me tell you why. First of all, our team, we get between 1,000 and 2,000 inquiries a month from potential buyers and sellers. So, we're not reading the news. We're making the news. We have our fingers on the pulse of the conversations that are coming our way. One thing we see a lot is that, "You know, I really want to buy, but interest rates are high. I'm going to wait." Okay, that's fine. Well, that's what others are saying. They're going to wait and they're going to wait and they're going to wait. Well, you know what? That creates a great opportunity for you because if all those people are waiting, that means there's less competition to buy, a perfect time to buy. Because all these buyers, they're waiting for the rates to come down so they can get, you know, a best deal on interest rate. That's a perfect time for you because there's very little competition.

Now, when you buy and all those buyers that said they are going to wait and now they're coming back in the market, guess what's going to happen? Prices are going to go not down, the home you bought, the price of that home is going to skyrocket. It's going to be extremely high. Now we all know that interest rates, they're going to come down. We study the market. We see the consumer price index numbers. They all indicate that everything's stabilizing. Interest rates are going to drop.

So, once again, when all those buyers come back in the market, that's going to create a huge demand on homes. And we all know supply and demand, simple economics. Prices are going to go way up. So, now you're sitting on your home that you bought. And you bought here. And now it's worth this. Think about that for a moment. Now, that actually is going to open up a couple of really nice opportunities for you. Number one, if you love that home that you're in and you're going to stay in that home that you bought here, and now it's worth this, you can refinance that interest rate that was here and now it's going to go down there. So, you have the best of both worlds. You have a home value way up here and you have an interest rate that's down there. Basically what you are doing, you are jumping on the path of increasing home value. And that's a really good thing. Now, your other option would be, say you decide to sell that home. Say it wasn't the perfect home when you bought it, maybe it just fits your budget. Well now you can take all that equity that you have in there and you can apply it towards a bigger down payment or a bigger and better home. So, you see, it really makes a lot of sense to get ahead of the curve and buy before the rates drop down. That puts you ahead of the competition. You can always refinance later.

So, if this is something you'd like to learn a little bit more about, reach out to me, my number below. I'd be more than happy to go over these options, including everything our team has to offer, our VIP program. I'm Tom Lux of Whissel Realty. Thank you.

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