Why are homes selling so fast homes are selling fast?
Here in Hampton roads homes are selling fast. Let me explain why, we have a large population of military who have bought
homes when they were more expensive. So nw that they are PCS'ed to another base their only options are to sell or rent. As rent prices rise buying a home is looking more and more affordable. As the VA and other lending institutions tighten up there guidelines on qulifications and credit scores. Also keep in mind that there are only so many homes on the market that are actually homes consumers want to buy!
I would recommend if you can buy a home now is the time to start planning where your going to buy, when and which lender is right for you. I have had three buyers in the past three months that have decided that buying a new home was the best option and investment when you look at the energy ratings for some of the new home options.
In the past two weeks I have had three clients all looking for homes in the same are and two were looking in the same price range. All three were looking for homes in Yorktown, VA. The only problem is that there are not many good quality homes in Yorktown under around $200,000. One of the reasons is that alot of the homes that are for sale need so much updates that most buyers don't want buy. Or in some cases can because the home will not pass inspection for a VA loan or even a FHA loan in some cases.
Read more on the artical that got me bloging about this in the first place.