Keys to consider when buying your first home
Congratulations! You've made the decision to buy your first home. This is a big step and can be a daunting process, but it's also an exciting one. There are many things to consider when buying your first home, and this blog will cover some of the key things that you should keep in mind. Buyers One of the first things to consider when buying your first home is what type of buyer you are. Are you a first-time homebuyer or have you already owned a home? If you're a first-time homebuyer, you may qualify for special programs or incentives. It's important to educate yourself on the different types of loans and programs available to you. If you're a veteran, for instance, you can take advantage of VA loans which offer better rates and terms than conventional mortgages. Mortgage Securing financing is one of the most crucial parts of the home buying process. You'll need to get pre-approved for a mortgage before you start looking for a home. This will give you an idea of how much you can afford to spend on a home. Be sure to shop around for the best rates and terms, and don't be afraid to ask questions. A good lender will be able to guide you through the process and help you understand the different types of mortgages available to you. Also, having your pre-approval letter ready to send with offers will show Sellers you are a serious and motivated Buyer. Agent with Local Knowledge and Experience Working with a real estate agent can make the home buying process much easier. Find an agent with local knowledge and experience who can help you navigate the market. They will be able to provide you with advice on neighborhoods, schools, and other key factors to consider when buying a home. Your agent can also help you negotiate with sellers and make sure that you're getting a fair deal. In conclusion, there are many factors to consider when buying your first home. As a first-time homebuyer, it's important to educate yourself on the different types of loans and programs available to you. Securing financing before you start looking is also crucial, as is working with a real estate agent with local knowledge and experience. By keeping these key things in mind, you'll be well on your way to finding your dream home.
March McLennan County Report
March Realty Report March saw marketable improvements from February, with home sales up 40% from the month prior. That brings the total within 17% of the same month in 2022, which was a record year. We are seeing sales start to pick up the pace, with homes selling faster and at better prices than the last 6 months. Homes that didn't sell in Late 2022 have started relisting and selling in just a few weeks now. New listings are up in March, as the selling season approaches and continuing the trend of the previous years. Also up is the sales, and at a faster rate, closing in on the past sales amounts for the previous 2 years. Average Sales Price increased as a response to the new demand shown in the number of sales. The days on market also dropped in correlation with the new demand that is picking up. All numbers currently point to a trend of an active selling season with a small appreciation in prices continuing throughout the summer. As always, if you are considering buying or selling, give us a call. Now more than ever it is important to find a local real estate expert to help you navigate the ever changing market. The Vander Woude Group 2032A N. Valley Mills Dr., Waco, TX 254-300-6115 vwgroupwaco@gmail.com www.thevwgroup.com
Frebruary McLennan County Report
February saw a continuation of January, with large changes from 2022 across the boards on the statistics we follow. Inventory continues to build as new supply of listings outpaces sales, causing homes to sit on the market longer than most have grown accustomed to. For sellers, the multiple offers as soon as you hit the market is gone, but on a good note, the price/foot has not reduced. For buyers, the anxiety and stress of competition is reduced and there are more properties to choose from, but interest rates are higher. New listings are down from January, following the trends from the past 2 years. March is normally a growth month with sellers wanting to get ready for the spring and summer sales season and this year should be no different. Sales were up from last month and very close to 2021 numbers. We expect that trend to continue as the year moves along. The largest change from the previous years is the Days on Market. If you are selling, be prepared that there is potential your property may sit on the market for awhile. Pricing aggresively is important this year as there is more competition and you don't want the days on market getting out of control. As always, if you are considering buying or selling, give us a call. Now more than ever it is important to find a local real estate expert to help you navigate the ever changing market.
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