Have you thought about buying a home this year, but are wondering if this is the time? With low mortgage rates, and a strong economy, it is a great time to buy a home! With lower interest rates, it enables you to afford more than just a year ago.
However, inventory is at an all time low, so you will have more competition from other buyers. Homes are staying on the market for less time, and many are in multiple offer situations which brings the prices up.
Be sure to consult your Realtor when placing an offer. They will have the facts about the home, and will advise you as to how to proceed. It is also best to have your Pre-Approval in hand before you start looking. When you step into the home and say, "This is it!" you are then ready to place your offer right away without delay.
Suppose you get into a Multiple offer situation. What does this mean? Highest and best is when a seller receives more than one offer on their home, and they ask each buyer to submit their best offer, giving each buyer the chance to raise their offer and change any terms by a specific date and time. They will consider all offers at this time, and choose which one works best for them. Again, consult your Realtor for their advice on how to proceed.
So, yes, this is the perfect time to buy!
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