First Time Homeowners - NOW IS THE TIME!
If you "sat on the fence" during the recent downturn in the real estate market, you have missed the "absolute best" time to become a home owner.
The "bottom" of the Buyer's Market has already passed. Many of the leading economic indicators are suggesting that the worst is behind us and in most areas, we have returned to a Seller's market. Some of the local areas are now seeing decent price increases.
Interests rates continue to be the lowest they've ever been in recorded history, however they have risen by at least a 1 point (1%) during 2018. Prices are increasing in a most areas. The available inventory is shrinking, and in some areas, there is a shortage of qualified, move-in ready listings.
Why are you waiting?
Low Interest Rates - With a little help (from points or Seller Assist), you can obtain financing at rates that are bouncing around in a tight range, between 4.5% & 5.0%. FHA, VA and other creative options allow you to get into your new home with as little as 3.5% down.
Increasing Affordability - As incomes rise, housing prices are remaining relatively stable. This makes the ability to qualify for a home more achievable for more people.
More Options - This is where you may be missing the boat. The market for first time single-family homes (those priced under $400,000) is HOT! Good homes in quality neighborhoods that are in move-in condition are selling fast. I am even seeing a return to multiple offers for quality properties. However, if you are "ready" with your financing lined up, you are in the best position to "jump" as the new inventory arrives.
Having a "partner" that understands the unique needs of first-time homeowners is critical to ensure you buy right! Let my team help you begin building your equity today.