Is Real Estate on your Goal List for 2022?
Just wanted to share with you a few things that I have learned from the last year in this very wild Real Estate Market and also provide you with some tools to help you navigate it a little better!
Things I've Learned:
- Interest rates are staying low (in the 3's) for now, but will begin to slowly rise with time. Like within this year! They will not stay low forever!
- Inventory is expected to increase! Many sellers are already tired of holding on and are ready to make a move. There are still an abundance of Preapproved Buyers, so be prepared for a multiple offer situation. Would you like for me to better explain that scenario?
- Staying with a Local Lender is ABSOLUTELY proven to be the best route. We experienced a much larger than normal amount of hurdles last year from out of town lenders. Our third party companies, like appraisers and title companies, tend to run into scheduling and communication issues.
- Many buyers are considering buying properties less than perfect and doing some remodeling on their own!
Ways to Better Prepare:
- Use my Exclusive Buyer Guide to help you plan how much money you will need to close. This breaks down the process and gives you a visual of the necessary steps to getting your transaction closed! Want me to email it to you?
- Having a preapproval letter in hand from a lender will put you in a better position to submit an written offer to a seller as soon as you are ready. Sometimes, this letter can take a week to prepare (depending on how quickly the lender gets the info they need from you.) We don't want you to miss out on the perfect place while waiting on this letter!
- Sellers are more attracted to offers with lenders who are local. This is because they, too, know of the extended wait times for closing in the past year. We want to avoid that as much as possible and show your offer as strong and organized!
- How do you feel about a remodel? Consider this while searching and see if it is better for you financially to have a lower mortgage and some cash to do these projects as you go!
Feel free to reach out to me if you're interested in more information on any of the points I hit above! Buying a home is stressful enough, being PREPARED can make the entire process so much more enjoyable! I'm ready to help!