Budgeting Tips for First Time Home Buyers

Spring is a Seller’s Market

spring marketThe Spring Real Estate Market is coming on strong and sellers are in the driver’s seat.  As quickly as homes are coming on the market, they are selling fast.  Sellers are pricing their homes optimistically and most of the time, they are selling, with bidding wars becoming more and more common.

Buyers are pounding the pavement looking for homes but inventory is low and when a great home comes on the market,  the competition is stiff, and many homes, if priced right,  may go for above asking price.

Properties stayed on the market for an average of 34 days as opposed to 45 in February.  Many buyers are dropping home sale contingencies and coming in with cash to purchase a home in this market.

First time home buyers may find it hard to compete with cash offers and appraisals could be a problem with mortgage lenders, with appraisals coming in much lower than sale prices.

Home prices may continue to rise but slowly, and while mortgage rates are slowly rising, now is the time to purchase a home before rates rise even more.  While inventory is low, new home building may help.

 Buyers must be diligent and act quickly if a home comes on the market.  Open Houses have been particularly busy and many offers are coming in within days of a home hitting the market.  Acting quickly can make the difference between becoming a homeowner or still living in a rental.

The Spring Market is an exciting time in the real estate world for buyers and sellers alike and diligence will pay off in the end.

Visit www.boldmovesrealestate.com for a great team of BOLDIES to help you navigate through the volatile spring market.  Now is not the time to go it alone.  Let the experts help you.

This blog was posted on www.boldmovesrealestate.com on April 27, 2017.

Rainy Day Showings

rainy day

Rainy Day Showings are inevitable!  While they may not be the best situation, there are ways to put the home in a good light despite the gloomy weather.

Getting a shower as you walk in can turn off a buyer.  Make sure the gutters are clean and working properly and diverting the water away from the house.  Any leaks or drips will show up at this time, and while this may be an advantage for a buyer, it’s important to get the repairs done before the showings begin.

Wet weather can also mean flooded basements.  Check on your sump pump and make sure it’s in good working order.  You may even want to replace it to make sure the water stays out of the basement where it belongs.

Puddles are the norm after a heavy rain, but you may want to make note of huge puddles in the yard after a major storm and try to divert the water before your showings begin.

Good lighting is important!  Show how bright and cozy your home can be in dreary weather.  Turn on all the lights, change bulbs if needed.   Turn up the heat and light the fireplace if you have one.  Cold, damp weather can make a home seem cold, so turn up the cozy factor.  Light candles or simmer potpourri on the stove to stave off the cold, damp smells.  Fresh flowers can also help with delightful smells and the promise of better weather.

You can always have the buyers come back on a better day to check out the yard and exterior of the house if they are very interested.

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This blog was posted on www.agentrising.com on April 6, 2017.

Visit www.boldmovesrealestate.com for a great local team of real estate agents.

Buyers Rushing Into Housing Market

Agent RisingBuyers are rushing into the housing market in anticipation of higher interest rates