2021 Real Estate Market Reality- Facts, Strategies and Tips

Today I want to share with you the reality of today’s real estate market.

First off, it’s no secret they’re a lot fewer homes on the market. If you’re buying a home, make sure you start as early as possible. Most of our clients are taking at least a month or longer to find the right home. They’re beginning the preapproval process 3-5 months before they even begin shopping for a home. Give yourself enough time.

Average home prices are in the high 200’s; many homes are over 300k. We are seeing more families coming together to make a new home purchase to qualify. If you have a partner or spouse, it’s probably best both parties get preapproved. 

In this market you should expect to have competition when making an offer. Every listing is receiving multiple offers. Many families are paying over list price. It’s critically important to work with someone who has access to the home value report on the home you’re interested in buying. This way, you know whether or not paying over list price makes financial sense. Also work with someone who can make your offer stand out as the absolute best. 

Interest rates are still at historic lows. When getting your loan processed, make sure you comply with your mortgage advisor. Get them everything and anything they ask you for when they ask for it. Your attention and promptness are appreciated by the entire mortgage team working on your behalf. 

Even though inventory is low, home prices are the highest they’ve been, your most likely to enter a multiple offer situation, and your loan will be among the many already in process. It’s never been a better time to buy a home with mortgage rates at historic lows. You truly can have the lowest possible mortgage payment. Please remember When you rent, the interest you pay is 100%. When you buy a home today your interest rate will be less than 4%. This is a  monthly cost reduction of 96% in interest at minimum. 

My name is Edgar DeJesus. I’m Branch Manager and Mortgage Advisor of Treasure Coast Home Loans. I understand everyone’s life situation is different. No matter what yours currently is, if you are interested in buying a home, we would love to help you, guide you and lead you. 

Today’s market requires you to have a skilled negotiator and consultant, like me, helping you and the people you care about right now.

Call or text me with any questions that will let me separate opinion from opportunity. 

We promise to make you feel like a friend. 

Thank you for taking the time to read my latest real estate and mortgage report.

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