Lack of inventory has been the one constant throughout the real estate market for the past several years. Depending on whether you are a buyer or seller, this will be a significant factor in how you deal with the process.
If you’re a buyer, it may take time to find the right home for you. Be patient. Once you do find your dream home, be ready to move quickly. Get pre-approved for a mortgage, make a competitive offer, and prepare for a possible bidding war. Know just how far you can safely go to secure a home and trust your real estate agent to have knowledge you might not have. Also, consult with your local lender and determine the max amount you could afford for a purchase.
If you’re a seller, know that you are, in some ways, in the driver’s seat. With the shortage of inventory, you are in a good position to negotiate the best possible terms. You have the advantage of determining price, moving date, possible repairs, or anything else with the potential buyer. Don’t be unreasonable but understand that you probably have the upper hand.
According to the experts, real estate will remain a strong factor in the economic climate going into 2021 and 2022. If you are hampered by challenging circumstances, such as difficult to prove income, weak FICO scores, or are just in a hurry to close a deal, give Sun Pacific Mortgage a call at 707-523-2099. We specialize in private lending mortgages for precisely these situations.
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Best, Forest – The Guy in the White Hat
Hard Money Broker and Co-Owner of family owned and operated Sun Pacific Mortgage & Real Estate, serving all of California since 1988! 707-523-2099 www.sunpacificmortgage.com.
CA DRE license #010005559 and NMLS #289456
Note: Get our financing despite bad credit, difficult to prove income, property a fixer, etc.! We finance Jumbo loans, Bridge and short-term loans, Owner Occupied purchases and refinances, investment purchases and commercial.
The content of this blog contains general advice only and does not consider individual financial circumstances, desired loan amounts or existing real estate or lending transactions. This information is intended for licensed Real Estate Agents and licensed Lenders/Mortgage Brokers and is posted on our company website and specific blog sites with the express purpose of reaching such licensed individuals.