Carolina First Mortgage Blog

THE TIME TO BUY IS NOW!

The upside of it all is that today's home buyers have an unprecedented amount of negotiation leverage with the sellers.  Want a lower sales price? Just ask for it.  Need your closing costs paid for? Put it in your offer letter.  Want to close in 30 days?  The world is your oyster.

A look at the recent statistics, though, suggests the market is morphing.

• Sales of new homes are rising at the fastest clip in a decade
• The supply of existing homes is falling month-by-month
• Home buyer activity continues to surge

Furthermore, home prices are no longer falling in many U.S. markets.

So, all this to say, if it hasn't happened already, home buyers are about to lose their upper-hand with their sellers.  And when they do, buying a home won't be nearly the "deal" it may feel like today.  Especially once mortgage rates head back up and the $8,000 First-Time Home Buyer Tax Credit meets its December 1 expiration date.

After all that, home sellers will be back in the proverbial driver seat, moving homes for more money and with fewer concessions.  Indeed, housing data suggests that this is happening in some markets already.

They say today's housing market is a Buyer's Market.  Well, it's only a buyer's market if you actually buy.

If you are interested in purchasing a house, please call me for a pre approval.  This is the first step in the process.  This will help you narrow your search by knowing the range of houses to look at.  Also, a buyer with a pre approval letter in their hand is considered a serious buyer worthy of the best offer from a seller.

Bob Bacon

Carolina First Mortgage

(803) 451-4800

www.carolinafirstmortgage.com