Buyers are returning to the market. Are you one of them?

Dated: June 11 2020

Views: 15

 

Our real estate market is changing quickly and this is more important now than ever before.

In mid-March, the real estate market experienced a strong decline both in showings and buyer-traffic. Even though this generated a sense of uncertainty, the industry adapted and we saw a shift into new practices that may have arrived to stay.

In the past few weeks, we’ve seen positive signs regarding buyers coming back into the market and needing listings to check out. Good news for everybody!

According to a report by Zillow, web traffic for online sales listings has risen into levels that are comparable to last spring’s market. Even though this may seem like an obvious result, as people are staying home and looking for the house of their dreams online, the presentations have increased as well, with a 39% raise in comparison to the decrease of the two previous weeks.

My question for you is:

With interest rates historically low, in a market that is ready to resurface and right on National Homeownership Month, don't you think it's the perfect time to get moving?

You may be thinking: Yeah, it’s time to buy a home, Luz

But where do I even start?

 

I’m so glad you asked! I’ve put together 10 tips for first-time home buyers as they tackle the home-buying process. Put these into practice today so your first home is a blessing, not a burden.

 

First-Time Home Buyer Tips

  1. Pay Off All Debt and Build an Emergency Fund
  2. Determine How Much House You Can Afford
  3. Save a Down Payment
  4. Save for Closing Costs
  5. Get Preapproved for a Loan
  6. Find a Home for Sale in Your Price Range
  7. Research Neighborhoods for Best Fit
  8. Attend Open Houses and Think Long Term
  9. Make a Competitive Offer (That’s Within Your Budget!)
  10. Prepare for Closing

 

Bottom line

In a recent poll performed by realtor.com, people that were thinking about selling their houses indicated that, generally, they’re willing to allow their agent and some potential buyers to get in, if it’s done under adequate conditions.

So, practice safety when it comes to in-person visits and get used to doing things digitally.

See you in the showings!

#homebuying #realestate #realtortip #ownership #newhome #buyahouse

Blog author image

Luz Abreu

Home Miami, Realtors is a Florida-based brokerage team dedicated to helping our clients make their homeownership goals realities. We believe in providing honest advice and personal service for success....

Latest Blog Posts

It's our 7th anniversary!

On this same month, seven years ago, I started a new path with a little bit of uncertainty, but with a huge desire to learn, to grow and to serve. Being in love with my city and its surroundings, I

Read More

This year, Americans are moving for a variety of reasons. What's yours?

This year, Americans are moving for a variety of reasons. The health crisis has truly reshaped our lifestyles and our needs. Spending so much more time in our current homes has driven many people to

Read More

Let's talk short-term rental properties in Miami!

Who wouldn't like to have a property that could generate 3 to 4 times more than the monthly average income, compared to a property that's rented on a yearly basis?A property that, as an owner, can

Read More

Should you buy now or wait?

If you’re thinking that waiting a year or two to purchase a home might mean you’ll save some money, think again.Mortgage interest rates are currently very low, but experts across the

Read More