itle: 3 ways we can all make buying a house easier right now

Even in the middle of the traditional homebuying season, purchasing a house may feel extra hard right now, especially for first-time buyers. That’s a realization those of us in real estate must recognize. But it’s our collective job to make it easier for our clients. 

That’s why this month’s Birthright Title blog covers some of the reasons why the market feels so difficult right now – and the ways professionals like us can help simplify the process for everyone involved.

Issue: Interest rates feel even higher than they are. And it’s not just the pandemic’s fault. Consumers got accustomed to low interest rates long before 2020 because the Federal Reserve first cut rates in response to the 2008 financial crisis. Even though multiple cuts occurred in 2024, mortgage rates still feel high, which is contributing to hesitation from both buyers and sellers. 

Solution: We all need to keep the conversation going about how mortgage rates fluctuate on a regular basis–and remind buyers that refinancing is an option when rates decrease later on. We should also talk about the larger issue of home affordability and how mortgage/interest rates are only one part of the equation.

Issue: Buyers are facing competition from investors, too. Think of it as a double “I” problem for buyers right now. In addition to low inventory levels, many of today’s buyers must fend off interest from investors for many of the listings that do make it onto the market. While Birthright Title appreciates the title work we get from the investment side of real estate, the increase in investment in single-family homes across the country – and in Tennessee – can’t be ignored when discussing the current conditions. 

Solution: Buyers are relying on us to be their local experts – and we need to rise to the occasion. Be ready to be real about competition in certain neighborhoods and areas, and don’t be afraid to push your clients if they need to be a bit aggressive to get a home they really want. In addition, keep checking in with potential sellers in places you know have lots of buyer interest. 

Issue: Wire fraud continues to be an issue for all buyers. We often talk about wire fraud and other scams in this space and will do so again here. Why? Scammers continue to target real estate transactions, and if you’re not careful, the results can be devastating. Only about half of today’s buyers are even “very aware” that this danger is always lurking, so it’s always a topic worth repeating. 

Solution: As we said, continue discussing wire fraud with your clients. It may seem like overkill, but it’s not. The reality is that 1 in 4 buyers report getting some suspicious communication from a possible scammer, and first-time buyers are especially vulnerable to falling for these scams.      

One more way you can help your clients reach their homeownership dreams right now? Partner with a title company that’s truly dedicated to getting them to their “home, sweet home.” The Birthright Title team is always ready to serve you and your closing needs in Middle Tennessee!