We did a recent survey on Facebook and asked some of our friends for some Real Estate related q & a questions and got some great feedback, here is what popped up regarding Westchester Real Estate in 2018 and the answers we provided.
What advice would you give to millennial home shoppers?
Generally speaking, I am seeing a lot of millennials get stuck on coming up with the money for the down payment, not knowing full well that there are plenty of options that local or regional banks can offer to those looking for a loan on a home. So firstly, I would speak with a mortgage broker about the different products that you can be offered, as there are some loan programs that require down payments as low as 3%, or even no down payment for some Military Veterans! So first things first get educated on what your monthly investment will look like so and determine what your budget is. Once you get a pre-approval document certifying that you are qualified to buy, you are ready to go shopping for your new home in.
Is Now A Good Time to Buy Or Sell?
The market is in an time of uncertainty presently with recent changes to the tax code and interest rates beginning to rise. Not to fear, this is what happens when the economy starts doing well, and buyers and sellers will just have to embrace the change. Currently we still have low inventory which has been causing pricing to rise and has caused buyers to fight over properties. The forecast is that the rise in interest rates and tax code will motivate sellers to put their homes on the market, increasing the inventory. If this happens, combined with the rising interest rates, this will most likely put downward pressure on pricing and cause the market to become more balanced, which a lot of buyers have been waiting for!
Why Hire An Agent?
If your a buyer, no matter how experienced in Real Estate transactions, a buyers agent generally cost you nothing, and the value of having a professional’s experience and knowledge of the market and process’s is key to making the right decision. If your selling, statistics have proven time and time again that GOOD agents are earning more money for their sellers, netting them more money even after paying a commission, all the while handling the process and making it pain free. So there is absolutely value in hiring the RIGHT agent.