With mortgage interest rates reaching historic lows once again, and real estate prices falling due to foreclosure fever, this could be the prime time to purchase residential property.
So, if you’re a first-time homebuyer, second-home buyer, or investor, please take note. For a whole host of reasons, various properties in Nevada and California are selling for prices below what we experienced 8 to 10 years ago.
You may ask, “What about financing?” Interest rates remain very low. The loan programs have evolved over the last year because of this foreclosure fever to tighter guidelines. A seasoned loan agent working for a mortgage company, or a loan consultant from your bank or credit union should be able to discuss current loan programs that fit for you and the guidelines that have to be met.
Also, your loan professional could take the process one step further by gathering your personal information and then determine what size loan you qualify for, what those monthly payments would be, and give you a letter of pre-qualification for your Realtor. If you don’t know a Realtor, your loan agent or loan consultant should be able to provide you with names and numbers.
The states of Nevada and California have foreclosures, short sales, bank-owned properties, builders with an oversupply and motivated sellers in record numbers. Maybe it’s time to flex your purchase muscles and make your real estate dreams come true.
So, if you’re a first-time homebuyer, second-home buyer, or investor, please take note. For a whole host of reasons, various properties in Nevada and California are selling for prices below what we experienced 8 to 10 years ago.
You may ask, “What about financing?” Interest rates remain very low. The loan programs have evolved over the last year because of this foreclosure fever to tighter guidelines. A seasoned loan agent working for a mortgage company, or a loan consultant from your bank or credit union should be able to discuss current loan programs that fit for you and the guidelines that have to be met.
Also, your loan professional could take the process one step further by gathering your personal information and then determine what size loan you qualify for, what those monthly payments would be, and give you a letter of pre-qualification for your Realtor. If you don’t know a Realtor, your loan agent or loan consultant should be able to provide you with names and numbers.
The states of Nevada and California have foreclosures, short sales, bank-owned properties, builders with an oversupply and motivated sellers in record numbers. Maybe it’s time to flex your purchase muscles and make your real estate dreams come true.
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