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Why Now Is The Perfect Time To Buy a First Home
At Cressy & Everett Real Estate, our real estate agents are working overtime to help home buyers take advantage of the unique opportunities offered by today's market. We've introduced a wide range of virtual tools to make house-hunting easier while limiting face-to-face contact.
And after a brief lull, buyers like you are back in action and looking for South Bend homes for sale. Not too long ago, buyers and sellers alike were expecting a rocky market. But there's no need to wait for a broader economic recovery before you buy: Sellers are moving forward with their plans, and the best thing most buyers can do right now is join them.
Many buyers in Indiana are finding the homes of their dreams. You can be one of them.
So, what changed? In short, everyone in the real estate market is doing their best to adapt to the new reality, and the results benefit everybody. Dire predictions of a housing market crash have been avoided. With the right advice, buyers are flourishing. That's especially true for first-time buyers!
Here's why now is the perfect time to buy a first home:
- Mortgage Interest Rates Are Near Historic Lows
Interest rates recently hit their lowest mark in years, and they've only rebounded slightly. Odds are good that if you can get to closing in the next few months, you'll save thousands of dollars against the prevailing rates from earlier in the year. It won't last forever, but there's still time to take action. - Housing Prices Are Holding Steady
Predictions for housing prices have been all over the board in recent months, from a suspected crash to a steady climb. In most cases, however, prices are holding steady. Supply may be lower than usual, but there are still properties available at a wide range of price points. - It's Easy to Get Homeowner Education Online
Many loan programs for first-time homebuyers require you to attend classes about homeownership and budgeting. All this information is rapidly moving online, and you can complete your requirements in as little as a few days without ever having to enter a crowded classroom. - House Hunting is Evolving to Meet Your Needs
Virtual tours and showings are making it easier to compare homes without having to travel, too. Your real estate agent can walk you through a home using live video. It's a fully interactive experience where you have plenty of time to ask questions and see exactly what you need to see. - Down Payment Assistance is Still Available
First-time homebuyer programs backed by the government, as well as down payment assistance, are still available for buyers who qualify. This can be a great way to stake out your position in the market even if you have reduced savings or past problems with credit. - Strong Income and Employment Will Benefit You
Small business owners and others who've traditionally had some trouble getting lenders to navigate their finances may now find it easier to get a good deal – as many entrepreneurs and self-employed professionals are weathering the financial storm better than would-be buyers with conventional jobs. - Even Closing Can Be Done Remotely
Closing is traditionally an hours-long process, a marathon session of signing paperwork and verifying all is in order. Now, even this has been distilled down to its essentials: With a "drive-by closing," you get it all done in a matter of minutes.
The key to making the most of some of the best mortgage rates in years is taking action now. The right real estate agent will help you navigate today's market. Contact us to learn more today.
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