Expect the Worst
No, I’m not talking about being pessimistic when buying your first home, but in today’s market in the Twin Cities of MN there are a lot of crazy things that can happen throughout the process.
The most common thing I’m seeing while searching with 1st Time Home Buyers is that properties are literally flying off the shelves. Homes are being listed and getting offers submitted almost the same day. So when you think you’re headed out to see 7 available properties, you may only see 3 that could still be purchased.
The second most common thing to be aware of today is that the Lending process is rocky. Their standards are changing almost daily, and the reputable companies are having a tough time keeping up with the new regulations as well as educating and serving their clients to the best of their abilities. Because of these factors, you need to be patient, flexible and understanding.
What happens when you expect the worst? Well, two things could result. The first would be that you never try anything, and the worst thing happens…NOTHING! The second possibility is that by expecting the worst you won’t be as disappointed if things don’t happen the way you anticipate, or you could be surprised and delighted if things go fine.
Let’s be clear: Home Ownership was abused by many sellers, buyers, brokers, banks, and builders alike back in 2000-2006. I’m not blaming anyone for where we are today, but you need to be understand these higher loan qualifications are to protect everyone – yourself included.
If you have questions about the market, please give me an email or a call and I will steer you in the right direction.
Best of Luck as always!
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