Tips for buying a home in a seller’s market

If you're looking to buy a home now or soon, there's no need to despair despite some tough market conditions.

CNN— If you’re looking to buy a home now or soon, there’s no need to despair despite some tough market conditions.

Certainly at the moment, there are challenges for potential home buyers, including high mortgage rates, home prices, and lack of available houses.

Real estate experts offer this advice for house-hunters: if you can afford to buy now, go ahead and take out a fixed mortgage with the hope that you can refinance at a lower rate in a year or two.

Another tip – if you have more cash on hand, pay more upfront to buy down your mortgage rate.