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Tuesday, June 11, 2013

HUNT MORTGAGE HELPS BUYERS AND SELLERS ACHIEVE RESULTS

Improving Market Conditions Shifting ‘Pendulum’ Towards Sellers




According to Jean Grant NMLS #69935, Vice President of HUNT Mortgage, the past few years made those looking to purchase a new home well positioned to get a great property at a great price. Recent buyers were also able to finance the home with a historically low interest rate. Low interest rates and a large amount of inventory created a strong “buyer’s market.” This spring, as the housing market continues to improve, there is a shift emerging towards a “seller’s market.” Both buyers and sellers alike need to be made aware of this market shift so they can act accordingly.

The number of homes for sale is currently below average compared to recent years, and low interest rates are still attracting individuals looking to purchase. Unlike in recent years, however, current homebuyers are finding themselves struggling to locate a property that meets all of their needs, and often end up in multiple offer situations when they do find what they are looking for. “All the more reason to have an experienced Mortgage Consultant and also real estate professional by their side,” says Jean Grant.

Lower inventory can mean some of the best properties are often receiving offers from multiple buyers. This situation can cause buyers to bid higher than the listing price, to increase the chances that their offer is chosen. “Though this can be frustrating for those looking to purchase a home, the current market is great news for the appraised value of properties. Appraisals are often one of the biggest unknown factors that can cause issues when applying for a mortgage,” Grant continues.

The selling price of similar homes in the area is one of the elements that appraisers take into consideration when determining what a particular house is worth. If other homes that are similar in size and features begin selling at a higher price, this can impact the appraised value of future sales. If inventory remains low, home prices will begin to rise. With interest rates remaining at historic lows, now is still an excellent time to buy a new home. New market conditions have also made this an excellent time to sell your current home.

HUNT Mortgage prides itself on providing the best products and service in the industry, with an elite staff of mortgage consultants and an innovative website. The organization recently launched a new online mortgage application, to help clients begin the process online, at their convenience. HUNT Real Estate ERA has been servicing home buyers and sellers for over 100 years, and it has seen and survived every possible market condition out there.

To learn more about today’s mortgage rates and products, contact Jean Grant at (716) 633-3700 x3129 or jgrant@huntmortgage.com. For more information about HUNT Mortgage, visit www.huntmortgage.com or on Facebook at www.facebook.com/huntmortgage. For more information about properties for sale visit www.huntrealestate.com or on Facebook at www.facebook.com/huntrealestate.

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