We know it’s still pretty cold but spring is coming soon and there will be a lot going on. Flowers won’t be the only thing that will be coming out of a winter slumber. Home buyers will be out in full force too. That’s because spring home buying season is about to get underway. We’re about to hit the part of the year when the home market heats up and Cliffco Mortgage Bankers wants you to be ready.
Cliffco Helps You Find Home Loans in All Seasons
At Cliffco, our business is to help people find financing to achieve the dream of home ownership. We’ll assist clients in finding out how much house they can afford and what types of loan programs you might qualify for. We do this all year round, but we do know that seasonality does affect the housing market.
We want our customers to know about trends in the real estate market and how to prepare for annual trends, so we want to take a look at the spring home buying season and what you need to know to get ready for it.
Is Spring Buying Season Really a Thing?
The first question you might ask is whether spring buying season is real and whether it really matters at all. While there are pros and cons to buying or selling a home during any point of the year, the statistics do show that the housing market does heat up as the weather warms up.
According to Housingwire, homes start to move between February and March. From 1999 to 2016, home sales increased by 33 percent between those two months. As the season progresses, the market heats up more with an average month over month growth of 10 percent each month until June. Overall, the months of May, June, July and August account for 40 percent of the home sales in an average year.
Preparing for Spring Home Sales
So there’s an excellent chance the real estate market is going to heat up and the best advice we can give you is to be ready. The Balance recommends that you get pre-approved for a mortgage so you’ll be ready to go. Cliffco Mortgage Bankers can help you do that and we’ll give you a free credit check as well.
You should also know the neighborhood you’re focusing on for your purchase. Try to do as much research as you can and if you’re working with a real estate agent, find someone who is well acquainted with the neighborhood.
If you’re dealing with a competitive market, U.S. News and World Report suggests that you be ready to make compromises. They suggest that you separate your wants from your needs and know where you can be flexible. You need to understand that no house is going to be perfect. Home inspections will turn up small defects and you’ll have to decide how this will affect your negotiations. Finally, in a heated market, be prepared to move fast. If you’re not ready to make an offer on that dream house, somebody else very well might be.
Cliffco Mortgage Bankers Will Help You Be Ready to Buy
If you’re planning on buying in the real estate market as it heats up in the coming weeks, Cliffco can give you a leg up. We’ll let you know the loans you may qualify for and work to get you pre-approved for a mortgage so you’ll be ready to go when you’re ready to buy. Contact Cliffco today.