First Step for Home Buyers

Potential buyers who are just starting to think about looking for a home often ask me what the first step in the home buying process is.  My answer – find out what your price range is.  And PLEASE don’t just go online and punch in some numbers into one of those online mortgage calculators!  Get in touch with me and get some names of true mortgage professionals who can give you a real idea of what you can afford.  Why not just use one of those calculators?  Well, it’s like using an at-home blood pressure monitor and never going to a doctor because you assume that if that monitor is telling you everything is a-OK with your blood pressure, then everything else is fine.  You wouldn’t assume that, would you?  Those online mortgage calculators are the same way – they provide one diagnostic answer but don’t examine the bigger picture.  A mortgage professional, however, within about a 15-minute conversation, can tell you how your credit is, how much you would need to get into a home (at the closing table), how much your monthly payment would be at certain price ranges, how your credit might affect your mortgage rate, etc.  This is a VERY important step…trust me, you don’t want to start looking at homes that are $250,000 when really $220,000 is the top of your price range.  It is not fun or easy to decrease your expectations in what your home might look like in terms of size and amenities.  So, if you’re thinking about buying a home, contact me and I’ll put you in touch with some great mortgage professionals today! 

Sellers Should Be Out In the Cold

Conventional wisdom in real estate has always been that the prime time to sell is in the late Spring and Summer. I’m here to tell you that is WRONG…sellers SHOULD be out in the cold this Winter and early Spring. Current mortgage rates completely trump that conventional wisdom these days. I have repeatedly told potential sellers this recently – do not wait to sell, get the house ready and on the market TODAY! Why? Because you will have much less competition if you get your house up for sale TODAY. Because mortgage rates are low TODAY – this is great for buyers of your home, but is also great for you to be able to buy another home. Because buyers are ready TODAY. Whether this will all still be true TOMORROW is anyone’s guess, especially about mortgage rates. This is such an exciting time for home sellers, I can’t say it enough! Want to know more? I’m here for you!

Buyers Can’t Find Homes To Buy!

Have you heard the news reports saying that “housing inventory is low”…sounds kind of technical, right? What does that mean? Basically, it means that home buyers can’t find a home to buy right now! It means that if you’re considering selling your home, now’s the time – you set the rules and buyers are likely to play by those rules. It means that if you have a nice house that shows well and is priced correctly (and don’t worry, that doesn’t mean priced low), it will move and it’s likely it will move fast (no pun intended) – I’ve even seen homes I would consider overpriced move quickly. And finally, it means that it’s a sellers’ market. Please, do not believe those news reports that say that it’s a buyers market! From a national and/or statistical standpoint, that may be true. But here, in the Dallas area, sellers are in charge for now!
Want to know more? Send me an e-mail or leave a comment!

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