Why Should You Be a Pre-qualified Buyer?

I know most people would rather wait to speak with a lender and give up their financial information to become pre-approved before shopping for homes, yet it only takes about 15 minutes. The reason it’s so important to become pre-approved beforehand is that most sellers will only look at an offer if it comes with a pre-approval letter. As you know, there are plenty of homes on the market for sale and only one you truly want. I want to make sure you get that property and that you don’t lose it because you weren’t pre-approved.

Another advantage of pre-approval is that when the loan officer runs your credit score, they may find things you can do to raise your credit score and ultimately get a lower interest rate. We both know that means a smaller payment and more money in your pocket!

If you want to get in touch with one of my preferred lenders, give me a call at (480) 596-2900. Thanks again and make it a great day!

What Can You Expect for 2014?

Today I wanted to talk to you about what 2013 brought us and what you can expect in 2014. 2013 was a great year for sellers with home prices going up 20% on average. Buyers also enjoyed 2013’s low interest rates. If you bought a home this year, you’re probably happy with the equity gains thus far. As the year comes to a close, the market has slowed a bit from July to the present. Also over the past three weeks, the market is beginning to level off around the 100 mark. This is giving us a healthy balance for both buyers and sellers and we are trending back to normal.

If we look at the contract ratio, it’s sitting at 37%. This means for every two homes that are on the market, one home is under contract which is very healthy this time of year. Because the market is leveling off, we’re optimistic that market will return and begin to appreciate again in 2014 at a rate of 3-5%. There are many variables that could change things, but the trend is showing we are headed for a great 2014.

It’s still a great time to buy and sell and be sure to lock in your interest rate while they are still below 5%. Call me if you want to discuss the market at (480) 596-2900. Thanks and enjoy the holidays!