The rain did not stop home sales in April 2016 with 145 closed sales in the single family category at the end of April. With 390 homes currently under contract and 66 homes already pending in May, this month is well underway to beat April's numbers.
In the condo/townhome/duplex category there were 66 closed sales. There are currently 166 available attached homes for sale with 25 pending homes ready to close in May.
So what are buyers going to do? With only 381 available listings buyers have to make sure they have their financial side of the process taken care of upfront! If you are able to have your mortgage loan go through underwriting with just a property contingency, appraisal and some other minor steps you will be ahead of the game.
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If you are a serious buyer you need to have a solid pre-approval which is more than answering a few questions online from some online mortgage provider. Sellers are going to be looking for solid buyers with pre-approvals, higher earnest money deposits and fewer contingencies.
Professinal real estate agents require that their buyers have a pre-approval letter or if buying cash a Proof of Funds letter. As a buyer, if you are upset by this requirement then you are not serious. No one wants to waste anyone's time with a buyer that can't qualify for a loan - you would be upset if you found your dream home only to find out that you can't purchase it because you have a credit issue. So get that pre-approval, narrow down your choices on your favorite real estate portal/site and call a realtor that fits your style to assist you in buying the home of your dreams.
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