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Health & Fitness

Summer is Hot for Real Estate

The summertime housing market is hot. Don't let the lenders and their requirments stop you from obtaining your home.

Yes, the housing market is HOT. Summertime has been traditionally the hottest time of the year to really burst in sales. It is when families want to make the move into a neighborhood where the school of their choice is located. It is also when people decide to pick up and leave to another area to start anew.

The interest rates are still at an all time low. The inventory of houses is plentiful.  The only major hurdle still seems to be the lack of qualified buyers. Buyers are having a hard time qualifying for a loan.

After getting pre-approved, the lender requirements are so difficult and lengthy that it appears hopeless. That is how my last clients were starting to feel. Some of
the conditions required by the lender referenced where and why certain deposits
were made. How do we remember every single deposit? We are just happy to
have a deposit. Lenders like to see “seasoned” funds. They want to see the paper trail of where it came from. 

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Though it seems “crazy” to keep track of simple things like this, it is imperative and recommended to do so. Don’t get discouraged or turned off. Provide what is needed and persevere. Your home is the end result.

My suggestion is to document EVERYTHING, or realistically, as much as you can.  It can only be helpful to your home purchase and hopefully make your experience less stressful.

Find out what's happening in Millbraewith free, real-time updates from Patch.

Let the summer be a profitable and positive experience for you. The house of your desires it out here. You just have to go through the proper steps to obtain this goal.

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