Sellers are receiving multiple offers in some cases and the competition for homes is tough.
Why? Low inventory, low prices and low interest rates. Home hunters are looking to take advantage of extraordinary low interest rates and prices before both go back up.
What does this mean for home buyers?
It means if you see a home that you would be sad to see sold to someone else tomorrow, then don’t blink or chances are someone else will jump on it.
In both my business and my wife’s (she’s a Realtor and Buyer Specialist), I’ve watched many clients regret their hesitation to make an offer, which resulted in losing out on a home that they really wanted.
I’m not saying that you should be in a rush. I’m not saying that you should buy a home that doesn’t fit your needs.
I’m simply saying that if you find a house that meets your wants and needs, don’t pass it up today thinking that it will still be available tomorrow…not in this market.
Latest posts by Jeff Irving, Mortgage Advisor MLO#269360 (see all)
- 10 Home Buyer Mistakes That Can Sabotage Your Loan Approval - January 4, 2014
- How to find out if your current mortgage loan is eligible for HARP (Home Affordable Refinance Program): - December 18, 2013
- What Happens If Interest Rates Go Up While You’re Shopping for a Home? - December 7, 2013