Everywhere I look, although somewhat looking more than most people…I am a Realtor ya’ know, I see deal after deal on homes and real estate. All over! New construction prices and incentives have never been better. Sellers of resale homes are finally starting to realize that the price they’ve dreamed of and thought they’d hold out for may not become reality.

Look in todays newspaper and the real estate section screams at you…..”Here’s a deal, There’s a deal”. “First time homebuyers tax credits“, “rock bottom pricing”, “we pay closing cost”, “FREE appliances”.

Some of the advertisers really reach deep to intice buyers. How ’bout this one…

“15 year loan available ONLY to first time homebuyers“. ( I hope everyone in the market for a home or a mortgage knows that 15 year mortgages are available to ALL qualified buyers).

Without getting off topic the point is, NOW IS THE TIME TO BUY! The selection of homes for buyers to pick from has never been better. Buyers can also take advange of low interest rates, take the time to make an informed decision without having to worry (too much) that someone else will swoop in and buy out from under them. I’m not saying this doesn’t happen in today’s market….just that it doesn’t happen as often as in days past.

Motivated and pre-approved buyers are rare these days and sellers need to face that fact. I say pre-approved not pre-qualified because there is a major difference. I suggest to any buyer serious about getting the best deal on a home, see a “local” lender and do a full application first to get pre-approved.

Now before all you lenders get upset that I recommend using a local lender I’ll tell you why. I had a guy who lived in Jacksonville, wanted to buy a house in Jacksonville, but insisted on using a lender from California because his son had a good experience when he used this lender to purchase his home in Southern California. Everything was going just fine until the day before our scheduled closing the lender says that we need to have an earthquake test done on the lot. ?????????

 

Really, I’m not making this up. This was a couple of years ago and I’m sure it wasn’t actually called an “earthquake test” but some other fancy name meaning the same thing. Anyway, long story short it took a couple of weeks to straighten the whole thing out. This was after I spent a week pulling my hair out trying to find someone in FLORIDA that knew about or could even do this type of test.

Now I can find someone to perform a test for spirits, ghost, mold, radon gas, moisture, lead based paint, termites….perhaps even a Hurricane test…but an earthquake.

Anyway, the point is getting pre-approved gives you more negotiating power especially if you write an offer without a financing contingency.

Many times when I meet with a buyer for the first time I will equate not getting pre-approved with buying a diving board before installing the pool, buying the collar before getting the dog, or getting off the motorcycle before putting the kickstand out.

We are in one of the best buyers markets ever…where will you be living when it’s over? Jacksonville and Orange Park, Florida are fantastic places to live! Real estate is still a great investment!