In today’s market, meeting with a lender before looking for a home is an absolute MUST. Deals happen fast these days and sellers may have several offers to choose from. Many sellers won’t settle (because they don’t have to) for an offer with less than stellar financing support and verification. In many cases, a pre-approval or pre-qualification is simply not enough for sellers to feel confident … [Read more...]
Buy Now or Wait to Purchase a Home? – My Advice if Considering a Home in the Sacramento Area
Less Homes are Selling for Over Asking In the last couple of weeks, less homes are selling for over asking and more homes have price reductions. Home sales are beginning to slow down from a burning hot market. As the real estate market stabilizes, we may see a slight decrease in home prices to accommodate higher mortgage rates. Our Area is Still in Demand Sacramento and the surrounding areas … [Read more...]
When Will Home Prices Come Down? – The Top Question Buyers are Asking Me
The number 1 question I have gotten lately is "when are housing prices going to come down?" That is indeed a great question…and an answer anyone who is considering buying, now or in the future, will want to know. We need to reach stabilization first Using my 35 years of lending experience, I have watched financial markets go from one extreme to the other and then back again. With … [Read more...]
Today’s Rising Rates Compared to History – Are They Still a Good Deal?
The home financing market looks much different now than it did just 6 months ago. The rock bottom rates from the last couple years are gone. Conventional interest rates are now 4.25%, pushing 4.5% soon! The Fed just made the 1st of 6 rate increases for this year. My guess is mortgage rates could be pushing 5% by summer 2022. I am seeing more people looking at the 5-year and 7-year … [Read more...]
A Lending Pre-Approval Should be on Every Home Buyer’s To Do List
1. Why is a pre-approval for home financing important? Having a home financing pre-approval completed before a home search is a necessary step in today’s competitive housing market. A lending pre-approval, a verification process provided by a properly licensed home mortgage professional, notifies all parties of a transaction that a borrower or home buyer has taken qualifying steps with a … [Read more...]