With the recent resurgence in the housing market, many potential buyers are feeling left out. Housing prices have steadily increased and don’t show any signs of slowing down. Is it then too late for most buyers to find a home that they can afford?
Although the market for undervalued homes, flips, and remodels has dried up significantly, that doesn’t necessarily mean that buyers are priced out of the market. Interest rates remain low (most below 4% at the time of this printing) which means that most borrowers still have strong buying power.
Simply put, buyers will need to get more creative in searching for their next home. With low inventory, it pays to have patience and wait for the right opportunity rather than jumping on something out of fear that you won’t find anything better. That being said, when the right home comes along, buyers need to be ready to act quickly with the increased competition in a market such as this.
This is why it is so valuable to work with a local, experienced Realtor. They will take your wish list and hunt for you; letting you know when the time is (or isn’t) right to buy. Lakeshore Realty’s agents have all the tools and expertise to guide you through the buying process and insure you get your dream home, regardless of the market. Stop by our office today and let us show you how!