If you haven’t jumped into the home search process yet, it’s possible that you are now waiting until the new year. Understandably, the holidays present more challenges for buying and selling homes though it can actually be a great time to do it. But if you are looking ahead and preparing to buy a home in 2017 here are some things to be aware of and steps to take to help move the process along smoothly.
Mortgages
Mortgage rates have finally crossed over the 4% mark and are likely to hold there through 2017. Home prices, at least in Nashville, are also likely to continue to hold strong or rise next year. It will be even more important to work with a mortgage expert (like Michael Brown of Churchill Mortgage) to shop around for the best mortgage possible. Finding the best rate is only one part of the equation; being aware of additional fees is equally important when selecting a lender.
Housing Inventory
It’s been lower than normal inventory in Nashville for months. We don’t expect that to change in 2017 either. Demand will remain high so Nashville home sellers are in a great position, but it’s tougher on buyers. Still, homes are out there for buyers who are prepared and ready. Buyers may need to finalize priority lists and widen search parameters to find a home they would otherwise overlook. Buyers must also be ready with strong offers in order to be taken seriously by sellers.
REALTORS
Choosing the right REALTOR will be even more important in 2017 with new real estate regulations, rising mortgage rates and a tight housing supply.Home buyers will want an expert who can help navigate the process and will know which areas are increasing in value or are up and coming. The right agent can ease anxiety while working within tight timelines and intense negotiations. Bottom line: Nashville home buyers will want an experienced agent willing to work hard on their behalf next year.
Thinking about buying a home in 2017 and want to get a jumpstart on the process? Call DeSelms Real Estate today at 615.550.5565 and see how we can help you!