Wait No More !
August 13, 2012
If you are planning to purchase a single family hoome in 2012, It is time to be prepared. I was showing property on Saturday in the $250,000-$300,000 price range and it was almost like an open house. Agents with clients were making appointments one right after the other. Prospective buyers were a bit overwhelmed by the fact that a property new on the market in the morning might have an accepted offer by the afternoon - and the accepted offer might be over the listed price. The competition for properties has become a challenge for buyers and their agents.
If you are in the real estate market to purchase a property, it is important to meet with a lender and become "pre approved" This means that you have applied for a loan, the lender has run your credit and checked your FICO scores. You must also have copies of your bank accounts in order to show that you have the funds necessary for your down payment and the costs of sale. If you do not have a lender in mnd, your agent can supply you with names of lenders with whom they have succesfully done business. When you make an offer, some listing agents might also require you to be prequalified by a specific lender. You do not necessarily need to use this lender, but the agent has trust that they will properly judge your ability to complete a purchase.
While the inventory of homes for sale is as low as it is in our market area, the competition for homes is likely to remain fierce. Be prepared.
If you are planning to purchase a single family hoome in 2012, It is time to be prepared. I was showing property on Saturday in the $250,000-$300,000 price range and it was almost like an open house. Agents with clients were making appointments one right after the other. Prospective buyers were a bit overwhelmed by the fact that a property new on the market in the morning might have an accepted offer by the afternoon - and the accepted offer might be over the listed price. The competition for properties has become a challenge for buyers and their agents.
If you are in the real estate market to purchase a property, it is important to meet with a lender and become "pre approved" This means that you have applied for a loan, the lender has run your credit and checked your FICO scores. You must also have copies of your bank accounts in order to show that you have the funds necessary for your down payment and the costs of sale. If you do not have a lender in mnd, your agent can supply you with names of lenders with whom they have succesfully done business. When you make an offer, some listing agents might also require you to be prequalified by a specific lender. You do not necessarily need to use this lender, but the agent has trust that they will properly judge your ability to complete a purchase.
While the inventory of homes for sale is as low as it is in our market area, the competition for homes is likely to remain fierce. Be prepared.
posted by shirley harry at 8:26 AM
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