HUD Articles

If you are ready to buy your dream home, what could be more terrible than a low inventory market?

Low inventory is driving up prices,making buying choices more limited.  Rates are trending down, but still higher than the low rates of the past.  What is the buyers best strategy?

Start by getting prequalified!  It shows your seriousness as a buyer,  it gives you a firm budget so you wont waste time looking at houses that are out of your range, and therefore miss properties that you can afford.

Consider looking at fixer uppers.  You must get a mortgage that allows money for fixing up if you dont have savings.  This is a longer process, but you will be able to make your own choices re decorating, and layout.

Be flexible!  Many times sellers are in the same position as you are, looking for a house in a tight market.  Flexibility re closing and move in dates can add incentives for the sellers to accept your offer.

Finally, make a great first offer!  Making a low first offer, hoping for a counteroffer can be risky.  You want to get the seller interested in you as a buyer.