Real Estate News:
Buying And Selling In 2014
This Year Should Be Strongest Since Recession
There are many predictions about the future of real estate right now, but from our standpoint here in the San Gabriel Valley in Southern California a few things are becoming very clear. Most of them have to do with competition …among both Buyers and Sellers … is growing tougher and tougher daily.
Activity here in our market is high and Buyers need to have all their ducks in a row before they enter the market. They should be Pre-Approved for the loan they need, know exactly what their financial capabilities are, and be ready to act and act now. If they try to enter the market without being fully prepared they’re liklely to be outbid or outmaneuvered by others who are more prepared.
Sellers as well need to do their due diligence. In a market such as we’re experiencing now,it’s easy for a Seller’s expectations to become overblown. A wise Seller will know what their property isworth and will price accordingly. Beyond that, be prepared to actually make strong and deliberate decisions … and beprepared to move.
Here’s an informative article by economist David Berson in HousingWire:
http://www.housingwire.com Mon, 17 Mar 2014 04:00:00 GMT
Housing activity (home sales and housing starts) has increased modestly over the past several years, but is still at levels well-below sustainable trends. For both economic and demographic reasons, 2014 should be the year when activity reaches the highest level since 2006/2007.
Best Advice: Be Prepared … Be Pre-Approved, Not Simply Pre-Qualified
The best advice in today’s market in our Southern California area is tosimply be prepared. Too many potential buyers, for instance, go into the market without a clear picture of what they can afford or what level of approval a lender might extend. They crunch a few numbers themselves from web pages or other sources and think they’ve understood the perameters of their position. The fact is that in our experience qualifying can be very difficult these days and all Buyers should pursue complete Pre-Approval … not just Pre-Qualification … before they venture into actually looking for a property to purchase.
If you’d like to pursue Pre-Approval with a quality lender in the So Cal area, email me at email@example.com, and I’ll provide you with some good recommendations.