When Buying A Home Should Not Be Delayed

We all know that buying a home is such a big decision that you would have to make. Sometimes, people thinking about it would put the plan into a halt or postpone. 

With the current real estate trend this is the time that you should not think twice about buying a home. Come spring time home buyers are expected to increase and outnumber home sellers. If there is a shortage, it is likely for prices to increase as well and would leave you no choice but to opt for conventional mortgage limits or may require having a large down payment.

Back in January, the average price for existing single-family home was up by 8.2 percent from last year ($213,800 in figures). This means that home prices are moving the highest rate since April 2015.

There is also good news related to the trend, mortgage rates are still expected to stay low and 30 year fixed rate mortgage are also not likely to increase more than 4 percent before May.

One good tip according to experts, since the spring time is expected to be a busy season for the real estate industry, it is best to get into the market as early as possible to avoid any closing delays. Competition is likely to be stiff as well especially the spring season is the conventional time for homebuyers to hunt and shop around for properties.

It is also convenient to check whether or not you are pre-approved for a loan before you get into house hunting/ shopping. This will help you avoid and give an advantage up to 10 days in the closing period.

If you are thinking about buying a home, call and speak with a real estate agent to assist you with your home buying process. There is no better time to invest and own your home but now while rates are still low and there is still a supply for homes.

Source: http://realtormag.realtor.org/daily-news/2016/03/14/why-your-home-buyers-really-need-hurry?om_rid=AAErMs&om_mid=_BW5xE6B9Lqu2Wa&om_ntype=RMODaily