If you’ve joined the procedure of buying or selling a home this former year or even thinking about it, you realize it’s been a seller’s market for the most part. Inventory of homes available for sale has been reduced, creating more demand than the market can offer. Partner that with affordable interest rates, which make it a terrific time for prospective buyers to get more value for their mortgage dollar, and you’ve got a marketplace in which purchasers have been competing for nearly every home listing. The forecast for 2019 is spinning in, and Home Inspection Grand Rapids MI and others are predicting the home seller’s market rage will continue all over the coming year, with millennials fueling the home-buyer pipeline.
In case you’re selling your home, that’s excellent news. Still, it produces the homebuying process more difficult. That would not mean you should hang around to get hold of your slice of the American dream, on the other hand. An experienced, knowledgeable Realtor ® can really help you navigate this marketplace and get a wonderful offer on the home of your aspirations. Here are some recommendations from the pros at Home Inspection Grand Rapids MI for what you should be considering about when thinking of finding a home.
Prequalification vs. preapproval. They’re not created identical. Prequalification is pretty much preapproval light. In a home loan pre-approval, you do all of the paperwork beforehand. Your bank authenticates the amount you can securely manage to pay, and boom, it’s done. Preapproval is interesting to sellers because it means you’re even more likely to get the loan. It’s faster, too, because a large amount of your paperwork is already done. It provides buyers a competitive edge in this tight market.
An experienced Real estate professional. Don’t even think about starting the process of buying a home in a seller’s market without an experienced Broker in your corner. It matters in every market, but it’s critical when the sellers are holding all the cards. A savvy legitimate country home pro is much more than someone who shows buyers homes for sale. They’ve got valued knowledge, insider knowledge, and advice, and can counsel you through the entire process. Real estate agents and Home Inspector Grand Rapids MI have tips and tactics for finding the perfect home and have the know-how to arrange a wonderful deal.
Interest rates. The Fed presses on to raise interest rates, and financial experts predict we’ll see a few more increases in 2019. Higher interest rates may lower some homebuyers’ buying power, which is all the more reason to get out there now if you want to buy.
Affordable inventory. It’s currently a seller’s market because there isn’t an excess of homes provided for buyers to choose from. During the winter months, the inventory of available homes tends to drop even further. But this shouldn’t discourage potential buyers from making offers on homes they love. An experienced Realtor is a huge ace in the hole for buyers when there is minimal inventory. He or she can help you through the procedure, finding out exactly how much to offer to get the agreement done.
Promptness. Be amenable enough to get to showings promptly, immediately after the home goes on the market. If you love it, make an offer as soon as you can.
Your greatest deal. In a limited market, it’s gone big or (don’t) go home. This is not the time to be circumspect about negotiations. Figure out the best offer you can purchase and go with it up front.
Buying a house in a tight market can be a challenge, but with a competent Agent in your corner, you can still grab your wedge of the American dream. For more information. you can call us @ (616)-379-9753