Market Heats Up! - Monday Morning Coffee ☕ with JAY PATEL

Market Heats up

When temperatures cool off in the fall, the housing market typically cools off too, but not this year.

According to Mortgage Lenders, home purchasing applications are up compared to the same time last year, and houses are selling more quickly.

We are going to see a very active purchase market for the rest of 2020 and all of 2021.  People understand the great importance of having a house right now; a place where you can go to rest, a place where you call home, and the space to raise a family. Now that “space” is becoming home, school, workplace, and people understand that it’s very important to have one.

In a typical year, the housing market is strongest in the spring, with a bit of a slow-down in the fall and winter months. This spring, the COVID-19 pandemic caused the real estate market to take a sharp downturn, and then after about month and a half, it surged back to life.

There are several options for low down payments and a lot of availability for financing right now.

To become a strong buyer at any budget, it is recommended to enlist the help of a mortgage professional and real estate agent. Then do some research for yourself.

Make sure you are aware of what you have.  Become knowledgeable of your FICO score, your credit score, how stable you feel with your income. What is your emergency fund? How much money do you have for a down payment? Those are the factors that are going to come together and allow you to make a sound decision.

Your home should be something positive for your family, a little preplanning will take your dream to reality!

JAY PATEL – Owner / Agent

RETHINK Real Estate
Juris Doctor / Attorney-At-Law
Direct: (623) 451-0443