Reality Check for Buyers
The market is coming back. Toledo, Ohio was recently listed as one of the most affordable places to live. Well we must be because the market is really busy here too. Multiple offers--who ever heard of that in the last two years!
Here in the Seattle market things are starting to heat up and it's time for a reality check for buyers!!
Recently I've been working with a buyer who lost her first pick to a multiple offer situation and 3 subsequent properties she wanted to submit an offer on have been multiple offer situations. She declined to submit an offer!
It's a sign of the times here in the Pacific Northwest. I have heard from several colleagues that they too are running into multiple offer situations. Our inventory is shrinking!
My advice to you if you are a buyer.....GET OFF THE FENCE! There is no better time like right now to purchase a home. Int erst rates are still great but with shrinking inventory, prices are likely to increase and the home you qualify for now, might not be available if prices increase due to multiple offers.
If you are unsure of whether you qualify for a mortgage, the only way to find out is to call your lender. I work closely with Sarah Cason at Cobalt Mortgage and she'd be happy to assist you with creating a game plan to get you into your first home or move up property. You can reach her at 206.963.0843.
After you've met with your lender is the time to contact your real estate professional to begin looking at homes you may be interested in. Happy House Hunting!
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