Buying a House in 2023: What to Expect

Well-priced homes in good condition are selling fast, but buyers have some negotiating room.

Home prices flattening

After big gains in the past three years, home prices are expected to stay flat.

Buyers have more negotiating room

Sellers can’t call all the shots the way they did a year ago.

Mortgage rates stabilizing

Mortgage rates more than doubled in 2022, with the 30-year fixed-rate mortgage rising from about 3% at the beginning of the year to more than 6% in December.

Tips for buying a house in 2023

Get your finances in order
Take a comprehensive look at your finances six to nine months before you start home shopping.

Understand mortgage options

“A lot of people still think they need to put 20% down,… That’s not true.”

Shop mortgage lenders 

Some lenders offer a broad range of mortgages, while others specialize. Look for lenders that offer the types of mortgages you’re looking for, and apply with more than one to compare.

Hire a good real estate agent

“Having a quality, talented Realtor on your side as a home buyer is going to really help you get across the finish line.”

Income requirements to buy a house: Key takeaways

Home buyers at any income level can apply for a mortgage. The most important thing isn’t how much money you earn, but rather, that your income meets a few key requirements.

Income requirements for a mortgage:

  • You need a reasonable debt-to-income ratio — usually 43% or less
  • You must have been earning a steady income for at least two years
  • Your income must be expected to continue for at least three years

Outside of those basic criteria, income requirements for a home loan are flexible. Most types of income can qualify — from standard salaries to the commission, investment, self-employment, bonus, and RSU income.

Thanks to today’s flexible mortgage programs, you don’t need a high salary to buy a home. Low-income mortgage programs can make buying affordable even for families without a lot of cash flow or savings.


The six major steps in mortgage loan processing

Load Approved

The mortgage loan process may seem far from simple. There’s a lot that happens between your initial consultation to your loan being funded. But we’ll walk you through it—and with full transparency.

We’ll explain every step of home loan processing, including a breakdown of all associated costs and fees. You’ll know exactly what you need to submit and when, and exactly where your loan is throughout processing. And if you ever feel you’re lost—just contact us! We understand that choosing a mortgage is the biggest financial decision of your life, and we’re committed to making the process as seamless, friendly, and financially valuable to you as possible.

Here are the six major milestones you’ll reach during loan processing and what’s happening at each stage of the process.

1. Loan is submitted to processing
2. Loan is submitted to underwriting
3. Loan is conditionally approved
4. Loan is Clear to Close
5. Closing
6. Loan has been funded


Ralene Nelson, REALTOR®

SOLD – 623 California St, Rio Vista

Adorable cottage/bungalow, 2 bedroom, 1 bath and has been updated. Larger backyard with patio & raised garden beds for your vegetables. The kitchen has been remodeled & there is an inside laundry & single car garage. Convenient location, walk to town for breakfast, snack, and/or dinner. READ MORE

OPEN HOUSE – Saturday 11:00 – 2:00 pm
FOR SALE – 1392 Lichen Ct, Concord
4 bed/3 bath/1,761sqft/7,980sqft lot

$950,000 – Look no further, as you enter this beautiful move-in ready home, you know this is the one, & it is located in a well-established neighborhood & close to shopping. Double front doors welcome you to this cheerful home that includes 4 bedrooms, 3 full baths, and features a bedroom & bath on the main floor. This is perfect for a nanny or family member living with you. The home has new interior paint and new LVT plank flooring/carpet throughout. The kitchen was refreshed with open space with newer cabinets, granite tile counters, a sink, a built-in oven/electric cooktop, a garden window & sliding door to the patio. The chef will be delighted with the walk-in pantry. The kitchen/den features a mobile prepping block with storage. Also, the upstairs hall bath was remodeled to include a new tub/shower & tile floor. The majority of light fixtures are new & fireplace has a pellet stove insert. RV/boat parking, storage shed & backyard can accommodate a swimming pool/spa. The backyard has a few fruit trees & room for a garden/play area. Room for a large BBQ with all your family & friends. This home has so much potential for the next homeowner. Solar leased 3/2020 for 25 yrs. Don’t miss out!! READ MORE

OPEN HOUSE – Saturday 12:00 – 3:00pm

NEW PRICE – 307 Birch Ridge Dr, Rio Vista
2 bed/2 bath/1,154sqft/4,321sqft Lot

NEW PRICE $415,000 – Updated Carmel model, in the active adult community of Trilogy. Just bring your furniture to this lovely 2 bedroom, 2 bath home with prepaid solar. Sellers have just finished with new interior paint, laminate flooring w/wider baseboards throughout, & painted cabinets. The kitchen has white cabinets, granite counters, an electric stove top, stainless appliances & 2 pantries. The primary bedroom closet has a built-in organizer & 2nd bath has a walk-in tub w/shower over. The laundry room has additional storage, & a 55-gal hot water heater. Shutters throughout make this a very cozy home. Fenced backyard for your pet and patio with all-weather cover. This makes for a cozy backyard and you are within walking distance to the dog park & path around the lake. Water softener & reverse osmosis. This community offers many amenities & social clubs, such as tennis, bocce ball courts, pickleball, a beautiful gym overlooking the golf course, 2 swimming pools & spas, billiards, & computer room. Have coffee or lunch in the cafe & lunch/dinner at the Monarch Restaurant. Various clubs such as cycling, RV, dancing, drama & more. Refrigerator, washer/dryer convey with sale. READ MORE

OPEN HOUSE – Sunday 1:30 – 3:30pm

FOR SALE – 295 Sage Meadows Drio Vista

3bed/3.5bath/2,367sqft/6,669sqft lotF

$559,000 – Calistoga model, with private courtyard, located on a corner lot. New interior paint (including garage) & tile/grout cleaned, gives this home a fresh look. Island kitchen with granite tile, black appliances, w/5 burner gas stove top & maple cabinets. Open floor plan makes this a great home for entertaining & the fireplace makes it cozy. Large master bedroom has bay window, upgraded tile in bath (walk in shower & tub). Den has been enclosed as well as another room, so this could be 4 bedrooms. One can be your den, other can be your craft/sewing room. 2nd bedroom has full bath, with courtyard entrance. Laundry room has sink, cabinets & folding space. Full patio & fencing secures this backyard for your family pet. Trilogy offers many amenities, from tennis, bocce, billards, pickle ball, golf, 2 pools & spas and even playground for grandchildren. Just bring your furniture & make new friends.READ MORE

FOR SALE – 731 Turnberry Ter Rio Vista
2 bed/2 bath/1410 sqft

$410,000 – NO BONDS-Spinnaker model with private backyard. This 2 bedroom, 2 bath home feels like a very relaxing cottage for a retirement home. The patio provides a quiet place for morning coffee & afternoon beverage. Den has built-in book/curio shelves & bay window. The Master bedroom has a bay window, which creates room for a sitting area. New hot water heater. Enjoy amenities such as golf, tennis, bocce, pools/spas & a new gym, and more. READ MORE

OPEN HOUSE – Sunday 1:30 – 3:30 pm

FOR SALE – 710 Pinehurst Dr. Rio Vista
2bed/2bath/2,065sqft/5,345sqft lot

NEW PRICE $445,900 – Solar owned & No Bonds!! Can’t get much better, this Hatteras model located in the Rio Vista Active Adult Community, Trilogy, offers drought-resistant landscaping & cozy backyard. Start the day with coffee on the patio & watch the sunset on the front porch. This home has 2 bedrooms, 2 baths with blinds throughout. The home has a living room/dining room combo and a family room/kitchen with tile floors in the kitchen/nook. Full patio with cover & is very private. The laundry room has a sink, washer/dryer convey with the sale, as well as refrigerators. Walking distance to Delta clubhouse, pro shop & Monarch Restaurant. Trilogy offers 2 swimming pools/spas, a cafe & restaurant, tennis courts, bocce ball courts, pickle ball, billiards & more. Just bring your furniture and enjoy your retirement life. READ MORE

OPEN HOUSE – Sunday 1:30 – 3:30 pm
NEW PRICE  – 689 Waterwood Dr, Rio Vista

2 bed/2 bath/1,837sqft/5,436sqft lot

NEW PRICE $550,000 – Breathtaking views as you step into this beautiful home, located on the 11th green & pond. Popular Reflect model with quartz counters, white cabinets, 5 burner gas stove top & refrigerator are included. Tile floors with carpet in bedrooms. A double-sided gas fireplace makes for a cozy den & living room. The primary bath has double sinks with a walk-in shower with w/bench seating. Shutters throughout the home. Walk out either slider onto the covered patio that is the full length of the home. Small piece of turf for your pet, low maintenance landscape (front & back) & fenced. The backyard is lovely & a great place for a BBQ. Washer/dryer are included & there’s a laundry tub in the garage. Prepaid solar lease, transferrable to the buyer for the remaining years of the lease. Just bring your furniture and enjoy all the amenities, such as 2 swimming pools/spas, bocce ball courts, tennis & pickle ball courts, horseshoes, billiards, a library, a computer room, etc. So many activities to enjoy, you can be as busy as you want or idle. There is a club for just about all your hobbies. READ MORE

OPEN HOUSE – Saturday 12:00 – 2:00 pm

FOR SALE – 181 Cedar Ridge Dr. Rio Vista
2 bed/2 bath/1,433sqft

$540,000 – Look no further!! This Clipper model is like a new home, completely renovated, from new sheet rock to all new cabinets throughout, new baths, laminate flooring, quartz counters, appliances, and new interior & exterior paint. Located on the 11th fairway, bring some patio furniture & enjoy the scenery. This model provides a living room/dining room & a nook/great room. Trilogy provides so many amenities, including 2 swimming pools/spas, bocce courts, billiards, tennis courts, pickleball, gym & more. READ MORE

Events in Northern California this Weekend
Wedding and Party Expo
Sun, Mar 12, 7 – 11 PM
5298 Clayton Rd, Concord, CA

We are excited to announce our inaugural Wedding and Party Expo. We are inviting businesses and vendors in displaying their special event service. If you specialize in weddings, quinceaneras, birthday parties, or special event take part of this opportunity. Scan the QR code for more information. READ MORE

The Purple Ones: Sacramento’s FUNKIEST Prince Party

Sat, Mar 11, 9:30 PM
Harlow’s, 2708 J St, Sacramento, CA

The Purple Ones is a group of world-class musicians that carries out the Purple Legacy of MUSIC. TPO is NOT a typical tribute band. There is no impersonator or look- a-like, nor do they dress up in goofy costumes or wigs.

The Purple Ones bring audiences to their feet, night after night, by speaking Prince’s musical language. energy, rhythm, creativity and of course…a serious dose of unadulterated funk. The Purple Ones tap into that soulful artistry like none other.
The Purple Ones is a labor of love that was born in 2012 when Bay Area based bandleader and founder, Morty Okin (“The New Morty Show”, co-founder of the Michael Jackson tribute “Foreverland” and Neil Diamond tribute “Super Diamond”,) decided to focus all of his energy on building the greatest Prince homage on the planet.  READ MORE

Lodi International Wedding Festival

Sun, Mar 12, 11 AM – 3 PM
Hutchins Street Square Box Office, 125 S Hutchins St # A, Lodi, CA

You’re engaged!  It’s time to plan your wedding! The wedding expo will be the perfect opportunity to meet with wedding professionals for one day, at one location who are there to answer all of your wedding planning questions and plan a beautiful wedding day.  At the wedding show you will see a combination of wedding professionals, wedding planners, florists, entertainment, photo booths, wedding venues, wedding photographers and more.Wedding planning is supposed to be fun!  Bring your mom, sister, maid of honor, bridesmaids, fiance, groomsmen, your I Do Crew, Team Bride, Team Groom, or Wedding Warriors with you and have a day that is just about having some planning fun. READ MORE

Red, White & Brew – Wine and Beerfest

Sat, Mar 11, 3 – 7 PM
MRPS SOCIAL HALL, 133 N Grant Ave, Manteca, CA

We are excited to announce our 7th Annual Red, White & Brew Wine and Beerfest fundraiser event benefiting Give Every Child A Chance (GECAC). We will feature several types of craft beers, wine, and cider from breweries and wineries from around the Central Valley and beyond. We will also have food trucks, merchandise vendors, entertainment, lawn games, and a raffle!

VIP Hour: 3PM-4PM, General Admission: 4PM-7PM

For additional cost:

* Food Trucks

* Merchandise Vendors

* Raffle

21+ event


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