2019 Home Buyers Review
August Home Buyers Update
When looking at today's real estate market in Grays Harbor region we discovered that we are dealing with two primary factors. Jason Atwood, Designated broker and Owner of Oly Pen Real Estate in Montesano, Washington takes a couple of minutes and discusses those factors. There is no doubt they are going to impact your ability to find a house as well as your ability to purchase it.
Those factors are:
• Low Market Inventory
• Low Interest Rates
Obviously, the low inventory is going to make it more difficult to find a house while the lower interest rates are going to help make that house purchase more affordable.
Local Housing Inventory is Low
Low inventory means for you is that it may take a little more time to find another house for you. One of The advantages of working with an agent is they have the tools at their disposal as well as the alerts network that informs them immediately when the property you may want becomes available. This is more important now than it has ever been. Back of the day you can sleep on it you could see one for a weekend or a week and a half and still be there in this market that's not the case.
Pre-Approval and Lender Consultations
Most likely, you are not the only one looking at this house or property. There are undoubtedly there's looking at the same property so there is competition. This is why it is important to have a detailed conversation with your lender, get your credit scores in line and get pre-approved. Obviously, these are not the fun things about buying a new home! However, if you take the time to do this legwork it will give you a huge advantage on others competing, but less diligently, for the same property.
Lenders Offering Historically Low Interests Rates
While Homes available for sale in Grays Harbor make buying a home a challenge certainly low interest rates give us a good incentive do you consider that this is the perfect time. Right now is interest rates are, historically, very low. In the 90s you would see rates even as high as 11 or 12% APR. Currently, however, the national average, according to market analysts, is somewhere between the upper threes and the low fours. Certainly rates have bounced around a lot over the last few years but currently we enjoy very affordable rates. Needless to say, if you are a perspective buyer that means you have more purchasing power. In terms of interest rates this is a great time to making that purchase you have dreamed of..
If you have had questions at all just having a basic consultation with one of our agents feel free contact us. Regardless, good luck finding that home or property perfect for you!
141 MAIN STREET
MONTESANO, WA 98563