The residential real estate market across the United States was hot in 2015 and all indications are that this will continue for most regions in 2016. With rising rental costs and lower unemployment in most areas there will be plenty of buyers. If you’re a seller, this is great news!
If you’re a buyer, landing your new home can often feel like a competition. So if you’re going to jump into the race in 2016, here are a few tips to put you ahead:
1. Work with a mortgage professional to figure out your options. A trusted mortgage professional can examine your finances, look at your financial goals over the next three to five years, and figure out the best mortgage options for your financial situation.
2. Get preapproved. When you know your options, your mortgage professional can help you get preapproved. This process will look through your finances and give you a firm loan amount that you are eligible for so you know how much house you can afford.
3. Find a qualified real estate professional. Now it’s time to get a professional on your house hunting team and start your search.
4. Put together your personal resume. Yes, you read that correctly. In highly competitive real estate markets it’s often wise to put together your personal ‘resume’ of sorts to share with the offer on your dream home. Many sellers’ appreciate the personal touch of knowing who would be living in their home. By including information about yourself and your family, it could put you ahead.
5. Be ready to close on time. Your dream home is secured and it’s important to know that your mortgage lender can get you ready to close on time. Be sure to provide any documentation requested by your lender promptly. At Evergreen Home Loans we’re dedicated to meeting your closing date and closing your loan on time and as promised®!