what is going on in the market??
Posted by cincinnatimodern on January 28, 2008
I get asked this question all the time. Here is my take on what is going on: There are great houses out there and you can get a lot of house for your money. But you have to be prepared to buy!!
People are just not as willing as they used to be to see a house that they love, buy it, then try to sell their old house. To many, it seems too risky to own two houses. So what I see is people becoming very frustrated. They find a house they love, but are unprepared to buy.
So here is my suggestion. Talk to a lender. Find out exactly what your buying power is – lending guidelines have changed and rates are coming down. If you are really going to take advantage of increased buying power created by this ‘move-up’ market, then let me evaluate your current home. Let’s be realistic about what it is worth. Face it, what your neighbor’s house sold for in 2006 has very little bearing on what your house is worth in today’s market.
But look at the bright side – even though your house may not be worth what it was a year ago, you are probably going to get your ‘move-up’ house for less, too! You still come out ahead!
So browse listings online for inspiration, talk to a lender and get pre approved (see my recommended lenders below), and let’s put your current home on the market. No sense putting the cart before the horse. Don’t spend months looking at listings and fall in love with your dream home only to be heartbroken. Be prepared and buy your dream!
For no obligation loan pre qualifications, please call:
Michelle McBride @ Huff Mortgage 513.505.0354
Dick Engle @ Summit Home Loans 513.266.3160
