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