ATTENTION: Home Buyers and Investors!
As most of you know the market conditions (especially the detached market) have changed as we have transitioned from a sellers market to a buyers market.
What does this mean?
If you’re a buyer, you have a lot more leverage now than you did earlier this year. You can avoid the bidding wars, view the property more than once before putting an offer, find properties with price reductions, and take advantage of motivated sellers. Add the low mortgage rates available (yes they’re still low) and you’re set to capitalize on the opportunity.
If you want to take advantage of the market, here’s what you do;
1.Talk to a mortgage broker or advisor and find out your buying power. (Yes you will have to provide your documents)
2.Confirm buying power and get pre-qualified. This will allow you to hold the quoted rate for 90 - 120 days
3.Call your realtor and start house hunting
It’s as simple as that. If you have any questions feel free to reach out.
