The Number 1 Thing You Can Do to Position Yourself to Buy a Home This Year
The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.
recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.” Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get preapproved for a mortgage, which you can do from the comfort of your home.
see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner. 2. Accelerate the Homebuying Process
Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you One thing the experts are saying is Pre-approval will help you better need to cross the finish line first and that while we’ll see a swift decline understand how much you can land the home of your dreams. in economic activity in the second afford so that you can confidently quarter, we’ll begin a sharp rebound do the following two things when Pre-approval is the best thing you in the second half of this year. can do right now to be in a stronger you’re ready to buy: position to buy a home when you’re According to John Burns 1. Gain a Competitive Advantage ready. Consulting: “Historical analysis showed us that pandemics Today’s low inventory, like we’ve Connect with a Gambino Realtor are usually V-shaped (sharp seen recently and will continue to today to get the process started.
