Things to do: April 20-26
April 24, 2017

If you have been on the fence about buying real estate, now is the best time to take the plunge. Although real estate has had its highs and lows over the past decade, industry specialists have recognized a recent upswing in the real estate market. This has prompted alert, experienced buyers to return to this market and is inspiring confidence in first time buyers.

One of the first and most exciting signs that the real estate market is seeing improvement is that the prices of homes are steadily rising. Some areas are seeing what have been recognized as astonishing levels of growth.

In recent decades, banks have tightened their lending standards to such a degree that obtaining a mortgage became next to impossible for many Americans. However, gradually—over the past several years—banks have once again begun opening their vaults and relaxing their standards. In other words, banks are lending once again. This is such a strong and positive sign of the banks’ own acknowledgement of the positive turn this market is enjoying.

Although our nation’s banks have begun to translate the recent growth in the real estate market into being more enthusiastic in their real estate lending practices, this does not mean they have returned to the lax lending practices that were so harmful to this market. For instance, would an interested home buyer be able to obtain a 125 percent loan-to-value mortgage with no money down, based only on “your signature,” as you may have done during the mid-2000s? Alas, no. However, if you have a job and decent credit, obtaining a fixed-rate loan shouldn’t be problematic.

The national and local real estate prices have climbed significantly from their 2011 and 2012 lows. However, for those willing to hustle to find great deals, great deals are out there; they are just waiting to be discovered. This is especially true for investors, such as those who buy bank foreclosures.

To learn more about the best time to purchase real estate, please call me at (941) 812-7581, or contact me via email at buyandsell941@icloud.com.

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