15 49.0138 8.38624 1 1 4000 1 https://lets-talk-real-estate.com 300 true 0
theme-sticky-logo-alt

The #1 Thing You Can Do Now to Position Yourself to Buy a Home This Year

0 Comments

The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.

One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:

“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.” 

Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get pre-approved for a mortgage, which you can do from the comfort of your home. Pre-approval will help you better understand how much you can afford so that you can confidently do the following two things when you’re ready to buy:

1. Gain a Competitive Advantage

Today’s low inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner.

2. Accelerate the Homebuying Process

Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

Bottom Line

Pre-approval is the best thing you can do right now to be in a stronger position to buy a home when you’re ready. Let’s connect today to get the process started.

Previous Post
The Economic Impact of Buying a Home
Next Post
Looking to the Future: What the Experts Are Saying
Mark Sincavage, REALTOR®

Mark Sincavage is a full-time real estate agent and REALTOR® Associate since 2010. Licensed in New Jersey, New York and South Carolina. — Dedicated and hardworking, Mark prides himself on making sure that all his clients experience smooth and successful real estate transactions. — Through experience and continued education, Mark has achieved the premier credentials of Seller Representative Specialist (SRS), Seniors Real Estate Specialist (SRES), Short Sale and Foreclosure Resource (SFR) and Resort & Second Home Property Specialist (RSPS). — When you’re ready to buy or sell residential real estate, Mark Sincavage is here to help!