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Dishin' with Diane

Don’t Fear the Current Housing Market

Many of my past and present clients have been intimidated about the state of our current market, but if you need to make a move, you shouldn’t be scared!

While our market has changed, home sellers still have great equity.  They can still sell quickly with a solid pricing- and marketing strategy, which is why I encourage that we begin with a market analysis of the property, so we have a real-time understanding of what we are working with, and we know which niche the advertising of the listing would most appeal to.

Rates have certainly increased, but buyers in our current market are enjoying far less competition than they were a year ago, which means smaller upfront deposits and time to work with the lenders on buy-down options. There is still the opportunity for the buyer to get into a property that fits him or her, while staying on budget. 

Instead of trying to time the market, remember that home values have steadily risen over the past few years.  There is no certainty about what comes next.  Our market is still full of great opportunities.  Understanding the difference between fact and fable will ensure you get the most out of the real estate market, regardless of its current status.

Myth #1: You Need to Put 20% Down to Buy a Home

This is a common story told to young adults.  This may have once been the case, but there are many options available to buyers today, to help ensure that we all have the opportunity to realize the American dream.  It may be possible to put down as little as 3%, depending on your individual circumstances.  Have questions?  Hop over to the  Resources Page, where you’ll find the names of numbers of a few trusted mortgage brokers who can help you determine what lending options are available to you.

Myth #2: You Must Have An Excellent Credit Rating

It’s true that the mortgage broker will run a credit report, but just because your credit is average doesn’t mean that the lender is going to send you away.  Mortgage specialists can help you buy, even if your credit rating isn’t ideal.  Again, you’ll find the contact info of trusted brokers on the Resources Page.  The only way to know whether or not you can get the home loan is to start the conversation.

Myth #3: Homes Values in the Triangle Are Dropping

This isn’t the case.  While it’s true that we aren’t seeing the bidding wars of last year, the home values in the Research Triangle continue to hold strong.  In fact, average home prices this year are higher than the average from last year!

Ready to move?  I can help.  Give me a call so we can discuss exactly how to make the most of our market!