Home buying in DC area Fall 2013 … tips for buyers

humpty dumptyOld wives tales claim that home buying comes to a halt just before the holidays and then nothing happens until Spring. The economy that used to support that notion no longer exists. I am not sure it ever existed. Herd mentality regarding seasonal swings in real estate sales had more influence on the general public than any other reason. When reality was exposed via the internet, lots of suppositions fell by the wayside, crushed under the weight of exposed facts.

This is 2013. The buying public is no longer in the dark. The truth found in common sense is rising to the surface. People move when they have a need for more space or when they have to change locations. The life events that create the need for more space or the need to change locations are not written in stone.

This is not rocket science, this is the real world. All weddings do not occur in the Spring and Summer. For that matter, all decisions to live as one do not occur only in the Spring and Summer. Children are adopted and children are born in every month of the year. Hard times strike when they strike and the need to provide for a loved one can happen any day, any week in any month.

Relocation is a 365 day occurrence. New jobs are found. Transfers from one area to another happen every week. People are discharged from the military every day. Life changes daily. It does not wait because Thanksgiving is here or Christmas is coming. Life suffers winter weather, it does not stop.

Worried about homes to buy?  Home owners live in the same world you do. There is always a supply of homes for sale. Sure the quantity rises and falls with the needs of the sellers, but there always homes for sale.

The Fall 2013 tip for buyers? Make sure you follow the proper steps when entering the home buying market. Your first step is ALWAYS the same. Speak to a few lenders, to find out where you are and what you need to do to get where you want to go. An agent has no value until you have an a factual understanding of what you can afford to purchase.

Make sure that you keep your lender inquiries (one, two or three) within a 14 day period. Each inquiry reduces your credit score, but inquiries within the same industry that occur within the same 14 day period are treated as one inquiry.

The lender(s) will evaluate you based on your earnings, your savings, your debt and your credit history. You should approach the information with a range of monthly payment that is in your comfort zone. Do not believe anyone that tries to convince you that even if it is tight in the beginning, future raises will make it easier. That sort of advice is coming from a jackal. Immediately sever ties and seek counsel elsewhere.

After you talk with a lender, I would be glad to help you. Oh, just like damn near every other agent, I work pretty much 12 months of the year. I too can tell war stories about Christmas Eve ratifications, etc. I just happen to know that buying and selling goes on when buyers and sellers have a need. When it is right for you, I will be there to assist you.

Questions? Call me at 202-656-5710. Comments…….always welcome.

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