First Time Home Buyers in this Market

First Time Home Buyers in this Market

It is the time of budding flowers, shrubs and Wickford daffodil

Daffodils

Wickford RI

days but instead we have a small snowfall to contend with.  Just like North Kingstown RI real estate market there are always the unexplained events that can make the home search interesting and challenging.  For instance, as Melissa Zavala mentioned in her blog, newest figures show at least 20% of the U.S. population has a good credit score (between 750-799) which is huge in this real estate market.  Where are these home buyers in this market?

 

Working with qualified and ‘ready to buy’ buyers is an important part of any agents plan.  Some first time home buyers especially in the North Kingstown real estate market are not getting the message.  I have had a ‘hot’ property on the market that is generated a lot of interest due to its price point with buyers. 

 

Yet, some of the buyers, working with Real Estate Agents no less, have not been pre-approved at any price point to buy.  Now why would a buyer be looking for a home when they do not know what they can reasonably afford or whether or not they can obtain a mortgage?  Listen buyers this is not the right way to look for homes unless you have a lot of cash sitting in your checking account!

 

Good credit scores, stable employment and current debt are going to be important factors to buying a home and getting a mortgage right now among other things.  See a mortgage professional first before you call on buying and seeing a home. Or call me and I will give you some mortgage people’s names.

 

Bissel Cove

North Kingstown RI -Bissel Cove

What you were able to do as a buyer 3 years ago has all changed. This was a discussion I had the other day with a buyer for newly listed North Kingstown home for sale.  The buyer argued with me about finding out what she could afford on a home – specifically the North Kingstown home for sale I was marketing.  She read my blog post and wanted the home..I heard all the ‘buts’ about 3 years ago and how she had no trouble buying a home in Florida then.  Well the agent she was working with said she didn’t need to be qualified to look at homes and make an offer.  Really wanted to bite my tongue but I didn’t and told her that is not true if she wants to make an offer on a home right away…well then she said I’ll go to then new XYZ mortgage company my agent said just started up and they will give me a good deal on a mortgage.  Oh boy, I just had to say my peace.  Know the mortgage company can deliver to you a first time home buyer in this market, that they can make the commitment to you to lend, make it through the underwriters conditions successfully and be able to close as expected in your purchase and sales contract!

Buyers if you have good credit and are looking for North Kingstown homes for sale the North Kingstown real estate market is right for you in this market.  Realize you need to be ready to make that offer on a ‘hot’ property so ensure you have met with a trusted mortgage person.

 

Yes, there are great deals on North Kingstown short sales in the North Kingstown real estate market as well as other well priced homes to offer on.  Be ready to pull the trigger or just continue to go to open houses to look.  Rates are great, home prices are good and first time home buyers with great credit should not be missing the deals in this market!  This is my stomping ground and I know it well so give me a call today.

 

First time home buyers in this Market.

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Ginny Lacey Gorman is your go to real estate agent for homes for sale in North Kingstown RI and beyond…knowing the geographic area, schools, happenings, important tidbits of local information and businesses well. She’s the RI real estate agent with the Sparkly Red Shoes.

Waterfront, oceanfront and coastal RI homes for sale are her specialty but all of RI is her backyard.  When you are in need of more information from an internet savvy marketer who sells RI houses in this real estate market, call Ginny at 401.529.7849.


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