Your Questions, Answered

  • Pre-approval gives you peace of mind: getting pre-approved provides a range of how much home you can afford, and what your monthly mortgage payments may be.
  • Pre-approval gives you an advantage: being pre-approved signals to a seller that you are a serious buyer, giving you an advantage over other offers they may receive at the same time.
  • Pre-approval saves time: spending a little time getting pre-approved before shopping for your dream home can save you time and effort once you have a signed contract.

A Buyer’s Agent represents only the buyer in a real estate transaction; he/she is bound by contract to help you find the best property at the most favorable terms for YOU.

Typically, the seller pays the commission which is split between the Buyer’s Agent and the Seller’s Agent.

  • Evaluate your specific wants & needs and locate properties based on your criteria.
  • Assist in determining the amount you can afford and show you properties in the appropriate price range and locale.
  • Assist in viewing properties and either accompany you on the showings or preview the properties on your behalf to ensure that your specifications are met.
  • Research the selected properties to identify any problems or issues to help you make an informed decision prior to making an offer on the property.
  • Advise on structuring an appropriate offer to purchase the selected property.
  • Present your offer.
  • Negotiate on your behalf to help obtain the identified property.
  • Provide recommendations and assistance in securing appropriate financing for the property of your choice.
  • Provide the expertise and experience to assist in making the home buying transaction a smooth and efficient process.

In sellers’ markets, increasing demand for homes drives up prices. Here are some of the drivers of demand:

  • Economic factors – the local labor market heats up, bringing an inflow of new residents and pushing up home prices before more inventory can be built.
  • Interest rates trending downward – improves home affordability, creating more buyer interest, particularly for first time home buyers who can afford bigger homes as the cost of money goes lower.
  • A short-term spike in interest rates – may compel “on the fence” buyers to make a purchase if they believe the upward trend will continue. Buyers want to make a move before their purchasing power (the amount they can borrow) gets eroded.
  • Low inventory – fewer homes on the market because of a lack of new construction. Prices for existing homes may go up because there are fewer units available.

A buyer’s market is characterized by declining home prices and reduced demand. Several factors may affect long-term and short-term buyer demand, like economic disruption – a big employer shuts down operations, laying off their workforce.

  • Interest rates trending higher – the amount of money the people can borrow to buy a home is reduced because the cost of money is higher, thus reducing the total number of potential buyers in the market. Home prices drop to meet the level of demand and buyers find better deals.
  • Short-term drop in interest rates – can give borrowers a temporary edge with more purchasing power before home prices can react to the recent interest rate changes.
  • High inventory – a new subdivision and can create downward pressure on prices of older homes nearby, particularly if they lack highly desirable features (modern appliances, etc.)
  • Natural disasters – a recent earthquake or flooding can tank property values in the neighborhood where those disruptions occurred.