How some lenders are SAVING you money GTT here…I am on a mission to help consumers make the best decision they can when it comes to buying/selling Real Estate in Murfreesboro, TN. Our value is broken down into 3 easy steps – Educate, Navigate, and Celebrate. My blogs are just another way I try educating friends or soon to be friends… So just what do I mean with my title…I am gonna explain this, but before I do, I need to explain the current market conditions of Real Estate. Prices are continuing to rise and we still have a shortage of homes…especially under $250k. Let me ask you this…If you were buying a home under $250K, just who do you think you would be competing against? Historically, we have found our home and bought The One. That was then, today it can be a lot more challenging. So lets discuss the challenges you need to be aware of so you can act accordingly.
- Did you know since the real estate recovery, thousands of homes have been bought by private equity funds. They pay cash, offer very close to list price and are very loose on home inspections. These funds believe in our local market, they have put millions into our area, but they have taken crazy opportunities for home ownership, because they buy and rent. You have to understand this if you want to buy a home. Sellers control terms.
- Remember that the loan company is a part of your offer. You have the right to choose your house, agent and loan officer, and they are all packaged up as part of your offer. In this environment, listing agents and sellers are really considering highest price and highest probability of the deal closing. Unknown mortgage companies and internet loan offerings usually bring more doubt for the decision, therefore this institution will probably COST you more money and offer the buyer less terms and limit negotiations. I have had several offers selected by sellers at a lower price after they see Belinda Arender with Iberia Bank. (LoansByBelinda.com)
- What do I recommend for you. Get the best understanding that you can. Learn the market, learn the trends and find the best people that you can to help you navigate through the journey. Most agents face challenges with customer loyalty. Buyers can choose anyone they want and usually never optimize selecting their best fit. I have found it tough for agents to give correct counsel in fear the buyer may move on without their help. My home buyers…listen to people that you trust, and limit what you focus on from others that haven’t been in the business.