IS THIS A GOOD TIME TO BUY AND/OR SELL?
This is a question that is asked of me on a regular basis. The 2014 Summer market is a sellers market. Prices are on the upswing and homes under $400,000 are hot, hot, hot. If a home is priced right and move-in ready in a desirable neighborhood it is gone in a matter of days. Thus, it is an awesome time to sell your home and step up to the next level. For first time home buyers it can be a bit more tricky but there are desirable homes out there just not for long.
It is important to be prepared. Homes are selling in record time. Get pre-qualified as soon as possible so when you find a home you want you can act right away. This is crucial in today's market or you may miss out on your opportunity. The competition is that fierce. Although the ideal situation is to sell your home before you buy in this market you want to at least begin the search prior to selling or be prepared to live in temporary arrangements. Make sure you Realtorknows exactly what you are looking for enabling him/her to keep a constant watch on the market for what you need. Interest rates continute to remain low so buying is still a good thing! There are great homes available over $380,000.
The biggest mistake I see buyers make is that they do not get pre-qualified before searching for a home. What happens is that the buyer is out looking at Open Houses and finds the one s/he wants only to find out that someone, who was pre-qualified, made and offer that was accepted before s/he was prepared to make an offer.
If you are at a loss for lenders I have a handful of fabulous lenders that I will gladly share. If you are afraid that you may not qualify bite the bullet and jump in. At the very least the lender can get you on a plan so within a certain amount of time you WILL be able to buy a home. Often buyers think they will not qualify only to find out that they do.