Everyone Is Talking About It

Supply and demand is definitely a real thing. We still find ourselves needing to prepare. To make that easier, I’ve made up a quick list of things to ponder as you partake in this great real estate market:

• Save Up for a Down Payment. Ideally 20% of the sales price, but some FHA and Conventional loans can be 3.5%

Check your credit report/score. This cannot be over emphasized. Your credit score can help you get a better interest rate from lenders.

• Set a housing budget. With offers being presented for more than asking price, trying to have your offer sweet enough to be chosen, you will need to have some reserve to make sure you are not over what you are pre-approved for and if you are… you will need more cash reserve.

• If I say houses are going for $10,000’s over asking price… I am not exaggerating!

• Talk to your mortgage lender and then talk to your realtor about the best options in your offer to purchase a house.

• Make a must have list and still try to get your basic wish list met.

• Browse online and then talk to your realtor about what you are seeing.

• Save your money to be more competitive in your offer.

• Prepare for the unexpected after you‘ve purchased a house. Little things that work today, might not work tomorrow. Have an emergency fund handy.

• Consider purchasing your own home warranty. I have not seen this being asked for with it now being a seller’s market.