How Can You Prepare for the Spring Market?

Spokane Washington Real Estate Video blog with The Legacy Group

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If you're planning on buying a home in Spokane this spring, you could not have entered the market at a better time.

One thing that I'll have you know is that renters will be taking advantage of low interest rates and purchasing homes this spring. Renters are also catching on to the fact that they can buy a home and pay less on a mortgage than on a monthly rental charge. This is why we expect a lot of first-time home buyers in Spokane this spring.

Buyers this spring can expect home appreciation, which will make a lot of sellers put their homes on the market. We anticipate a really good market for buyers with a lot of inventory and a lot of good opportunities for home buyers to find what they want.

The last, and possibly most important thing you need to know as a potential buyer in Spokane is that the feds have loosened up the requirements to get a mortgage loan. Lower interest rates, lower down payment requirements and lower rates on mortgage insurance are giving first-time home buyers more purchasing power. Loan-to-value ratios have also changed, which will also increase your buying power.

Now really is the time to make a decision if you're going to be purchasing a home in Spokane. If you need any assistance with your purchase, please be sure to reach out to my team. We would love to assist you!