Crofton Real Estate News: Strike While The Iron is Hot!!

Happy Thursday Everyone!

     There is a lot to talk about this week!  Crofton real estate has no shortage of active listings on the market.  There are 116 listings available right now.  There is A LOT of inventory to chose from. 

     If you are on the fence about buying, now might be the time to make a move!  Unfortunately, there have been just 8 sales in Crofton so far this month.  Obviously that is not a lot, but there is a silver lining.  With some much inventory and seemingly so few buyers, sellers are much more inclined to listen to offers they might deem as "lower" then what they were hoping to obtain.  Obviously, sellers are going to have to think long and hard about whether they can counter offer, and to what extent they can "push back" so to speak. Any agent should be advising their clients that your home has a certain value in today's market.  But they should also be very careful in how much more they try to get the buyers to come up.  With such a wide variety of listings, there is a chance buyers can get fed up and move on to another home and that puts the sellers back at square one. 

    Also, interest rates are checking in under 4% still.  That makes a huge difference from the 4.5% from the Summer.  Getting pre-qualified is easy and free.  If you do decide that no is a good time to buy, you will want to get pre-qualified to see A. how much you can spend to help narrow your search and B. how much you are COMFORTABLE spending.  Just because you are approved to spend $400,000 doesn't mean you have to.  You want to talk to your lender about what you feel comfortable paying each month on a mortgage and go from there. 

    As you can see, now is an EXCELLENT time to buy a house.  If you would like some help with the process or have any questions feel free to contact me via cell/email. 

    For all you sellers out there, my next blog post later in the week will talk about what you can do to make sure your home is one of the first to sell in your price range!  So be on the lookout for that.

Until next time...

Alex Estill