RUNNYMEADE ALEXANDRIA, VA 22310
PREPARING TO BUY
Originally Posted: www.comehomevirginia.com/buying-a-house-in-northern-va-prepping-for-success
Throughout the Northern Virginia region our local economy and employment numbers continue to very strong and seem to be getting stronger, which is continuing to more home buyers to enter the market place. Northern Virginia including the Runnymead at Cameron Crossing Neighborhood here in Alexandria is experiencing a major seller's market condition with very little for sale housing inventory typically less than 2 months available in many local areas, for prospective home buyers to select from, and where they often find they must compete with one or more other hopeful home buyers. In a market as competitive as this it is important for you to avoid these Seller's Market Mistakes. Get the best deal when buying a house in Runnymeade Alexandria Va 22310
In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the homes for sale. This has led to a very competitive marketplace where buyers often need to stand out and make their offers more attractive to home sellers. One way to show you are serious about buying your dream home is to get pre-approved for a mortgage before starting your search. Selling a house in Runnymeade Alexandria Va 22310 Dave Martin Realty Group Best buyer agent in Virginia
Even if you are in a less competitive market than we have in N. Virginia, having preapproval will always give you a negotiating advantage over someone who does not have pre-approval and understanding your budget will give you the confidence of knowing if your dream home is within your reach.
Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website: www.ComeHomeVirginia.com
“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”
However selecting the loan officer to work with is not the first real estate professional to sign-up for your team. The first member of your real estate team you should sign-up is your real estate agent (Buyer Agent). Why? Well your buyer agent is the only person that has a fiduciary responsibility to you (this is established by means of a document often called a "Buyer Broker or Buyer Agency Agreement". One of the many advantages of working with a local real estate professional is that should have relationships with a variety of lenders and should be able to advise you as to which of them may best be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.” SRunnymeade at cameron crossinghome selling expert hire the best realtor Virginia
Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:
- Capacity: Your current and future ability to make your payments
- Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
- Collateral: The home, or type of home, that you would like to purchase
- Credit: Your history of paying bills and other debts on time
Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.
Bottom Line Buyer agent testimonial we saved more money using Dave Martin as our agent than the commission he earned
Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.
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To protect your interests and make certain that you make the best decisions possible, it’s important that you have an experienced and knowledgeable real estate agent that knows the area, how to negotiate effectively and that has your best interests at heart.
We are committed to keep you informed and on top of the local Northern Virginia real estate market including Runnymeade homes in Alexandria Va. You can be certain that we will provide all the information you need to make the best choices for you and your family — even when that best choice is to do nothing. We have been helping individuals, couples and families to purchase and sell homes in Fairfax, Alexandria, Arlington, Prince William County and the surrounding areas of Northern Virginia for the last four decades, and we would love the opportunity to help you, too. Whether you are buying your first dream home or next, we will take the time to answer all your questions and always give you the best advice available so that you can make your dream home a reality. Best Buyer Agent in Virginia
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You can find Dave on many social media platforms or on his N. Virginia Website Blog. He's an active online real estate marketer who loves helping residential real estate Sellers and Buyers in the Northern Virginia market. local real estate expert Runnymeade homes