Luke Answers Real Estate Questions.

If you’re watching interest rates and thinking, “Now’s not the time to buy,” I hear you. A 7% rate doesn’t exactly scream “deal.” But here’s the truth: high rates don’t automatically mean it’s a bad time to buy—in fact, it might be the best time.

And I’m not just saying that as a real estate agent. I’ve bought homes myself in 2020, 2022, and 2023—all under very different market conditions.

📉 The Rate Was Low, But the Options Were Even Lower

In 2020, I locked in a fantastic interest rate of 3.375%. It was as good as it gets. But the market? Wild.

• There were 20+ offers on nearly every listing.
• Homes went under contract within hours.
• And we were constantly in a rush—racing against other buyers, writing aggressive offers, waiving inspections, and making compromises just to get in.

Honestly? That house didn’t fit my family’s needs, and we ended up moving again just two years later.

The home I bought in 2022 wasn’t much better. I got a 5.75% rate, but we were still up against low inventory and stiff competition.

🔁 In 2023, Everything Changed

Last year, I bought a new construction home with a 7% base rate—but here’s what’s wild:

✅ I had choices
✅ I didn’t have to rush
✅ We found a long-term home my family truly loves

And the perks? Way better than in years past. The builder finished our basement for FREE, and they even bought down our rate by 2% for the first year and 1% for the second year. That made a huge difference in our monthly payments.

Bottom line? The home worked for us. We finally had the time and leverage to make a decision we felt great about—and not one we were pressured into.

📊 What Today’s Market Offers Buyers

Yes, interest rates are sitting around 7%. But here’s what’s different compared to the frenzy of 2020–2021:

• Inventory is up
• Buyers have negotiating power
• Builders are offering serious incentives (finished basements, closing cost credits, rate buydowns)
• You have time to actually think and plan
• And when rates drop again? You can refinance

💬 My Advice?

Don’t just focus on the rate. Look at the total picture—the house, the location, the incentives, and how it fits your family’s needs. I’ve personally lived both sides of this market, and 2023 was by far the best buying experience I’ve had.

If you’re shopping around South Jordan, Daybreak, or anywhere along the Wasatch Front, I’d love to help you build a smart game plan.

📲 Reach out anytime—or start with a quick message right here: luke.zanderteam.com