3 Big Worries Buyers Have Right Now.

Worry #1: I won’t find a home I like. According to the economist Jed Kolko, 43% of people who plan to buy a home in the next year have expressed concern over the fact that they might not be able to find a property they like. Of course we can all find a home we like, the key is in what price range.

As home values increase, the number of properties that fit your price range will decrease. 

That is why it’s important to: 1) See properties that fit your criteria as soon as they come onto the market.        2) Adjust your expectations to what you can actually afford. 3) Work with an agent who knows the local market and whose advice you trust. 

As soon as you enter the market with a realistic attitude about what homes cost and what the market is doing, the sooner you will find your home.

Worry #2: I will have to compete with other buyers for the home I like. This was definitely the case earlier this year, but the market is slowing down as new homes come into the market and the supply increases. So while this might be true to a certain extent, it is not as vicious as just a few months ago. 

Worry #3: I won’t qualify for a mortgage. This is the one worry over which a buyer has the most power. A smart buyer will work with a mortgage broker who was referred by someone trustworthy. If you start this relationship early enough, the lender can ideally help put an action plan in place that will help boost your credit score, and minimize your debt and credit dings. This will help give you a goal to work towards and minimize qualifying nightmares when you are ready. Once you are ready, the lender will tell you how much you can borrow to purchase the home you want.

If you have any questions, feel free to call me at 949-874-5951, email me at PatriciaPlatt@cox.net or go to my webpage at www.patriciaplatt.kwrealty.com.

I would love to help you with your real estate needs!