Traditionally, spring and summer time are the highest seasons for real estate transactions, but are you ready to buy or sell your home? Real estate power couple Ryan and Royale Jockers joins us on Morning Dose with tips for those homeowners — or potential house owners — looking to hit the market.
Here's some good news:
There is more inventory on the market this season than in the previous year, according to the Jockers. This means it's both a buyers' and sellers' market, or in other words, a great time to buy and sell for both parties.
Interest rates: they are great right now and lower than they were projected to be! If a consumer has good credit, they can get rates starting at the following based on how they plan to structure their loan:
- FHA: 3.5% down with good credit (interest rate as low as: 4.25%)
- Conventional: 20% down with good credit (interest rates as low as: 4.375%)
Here's some great advice:
- Have at least 3.5 % of the home sale price saved to put towards a down payment
- You want shop your interest by getting pre-approved with at least two different banks
How has Harvey effected the real-estate market?
If the home flooded once and is properly remediated and repaired, it should hold its market value in most cases. On the other hand, if the home flooded more than once or is located in a neighborhood where the entire subdivision was underwater, it could take much longer to sell.
Interested in buying a home or getting assistance selling your home from the Jockers, click here.