Posts in category 'Buying'
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9
Selling Your House? Make Sure to Price it Right
There's no denying we're in a sellers' market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate.
According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):
• Homes typically sell within 17 days (compared to 26 days one year ago).
• The average home sold has five offers to pick from.
• 54% of offers are over the asking price.
Because so many buyers are competing for so few homes, bidding wars are driving up home prices. According to an average of leading expert projections, existing home prices are expected to increase by 8.9% this year.
2
Pre-Approval Makes All The Difference When Buying A Home
You may have been told that it's important to get pre-approved at the beginning of the homebuying process, but what does that really mean, and why is it so important?
In today's market, with rising home prices and high buyer competition, it's crucial to have a clear understanding of your budget so you stand out to sellers as a serious homebuyer.
Being intentional and competitive are musts when buying a home right now. Pre-approval from a lender is the only way to know your true price range and how much money you can borrow for your loan.
With limited housing inventory, there are many more buyers active in the market than there are sellers, and that's creating some serious competition.
According t...
25
Dreaming of a Bigger Home? Why Not Buy it This Year?
21
What's Motivating People to Move Right Now?
2
Why Waiting to Buy a Home Could Cost You a Small Fortune
Many people are sitting on the fence trying to decide if now's the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs.
To determine if they should buy now or wait another year, they both need to ask two simple questions:
Do I think home values will be higher a year from now?
Do I think mortgage rates will be higher a year from now?
Let's shed some light on the answers to these questions.
Where will home prices be a year from now?
If you average the most recent projections from the major industry forecasters, the exp...