Home Purchases Dominate Market 21 Straight Months

Home buying is popular again. Home values are rising, and homeowners in some locales are making more than $40,000 per year in home appreciation.

 

Source: Home Purchases Dominate Market 21 Straight Months

The Number of Home Buyers Rising

We are in a pivotal time. Homes continue to be offered at relative lows and interest rates are holding. But predictions, along with hard data suggests that 2017 will be the year of the homebuyer, as home prices and interest rates are on the rise. During this time, it is more important than ever for realtors and lenders to have a toolbox of products available for their diverse clientele. 

Michael Nelson - AFNMortgages Being Approved at Record Levels

As realtors and lenders work with buyers, it is important to acknowledge the economic diversity being brought into this hot market. Today’s mortgage applicants are being approved with lower credit scores than ever before. Because of this, renters looking to move into permanent dwellings have opportunities not available to them in the past, and it is up to realtors and lenders to articulate with their customers, the flexibility being offered through lower down payments, shorter loan application periods, and higher approvals for those with lower credit scores. 

Rates Won’t Stay Low Forever

While this all sounds like great news, there is a sense of urgency for those of us trying to help buyers get a piece of the American Dream. The demand for mortgage loans is high right now and with each loan approval, the time of low interest rates and loan availability is less assured. Buyers who are qualifying today may have a more difficult time even a year from now. It is our job to work quickly and efficiently to get them qualified and into a home during this economic shift.

Feel free to call, text , or email to continue the dialogue.

As always, Happy House Hunting!

Mike
720.213.6260 (voice & text)
mnelson@afncorp.com
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Michael Nelson - AFN

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