Rates may soon rising, banks are still operating under tight lending conditions, inventory is shrinking, and competition for well-priced homes, especially in the first-time buyer range, is fierce. Are you being shut out of the real estate market?
Here are 10 ways to improve your chances of getting in the market and getting the home you want.
1. Know what to expect from the process
No two real estate transactions are exactly the same, but buyers who have an idea of how things work will have a leg up. “Buying your first home is one of the most important decisions of your life,” said MSN. “Yet most people lack in-depth knowledge of the process.” Working with an agent you can trust is key. And while you might be tempted to use the lady down the street who just got her license or your brother-in-law’s cousin’s stepbrother, your best bet is to ask for referrals from your core group and interview a few. After all, there are hundreds of thousands of dollars and the American dream at stake.
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