Buying a home for the first time can feel like an overwhelming experience. The walkthroughs, loan applications, and negotiations are only made more difficult when your offer is denied by a seller who chooses another buyer. Our real estate agents are also discouraged when a great offer goes unaccepted. Although a normal part of this process is to feel like the odds are stacked against you, remember that it's only a matter of time until you're handed the keys to your dream home.
As each generation gets older, many men and women hope to purchase their first home early in adulthood. Unfortunately, there are a variety of factors that could prevent potential homebuyers from the home of their dreams. Some of the common hurdles first-time buyers struggle to overcome include:
These obstacles may seem difficult to overcome, but don't lose hope! There are ways in which you can improve your odds of securing the home of your dreams even in a competitive market. We suggest that first-time homebuyers consider these tips:
Buying or selling a home can be a stressful situation, but buying and selling a home simultaneously can get downright terrifying if you're not ready for the transition. Fortunately, there are some ways to help ease the burden of buying and selling at the same time, and the primary method is by way of a bridge loan.
Just like it sounds, a bridge loan helps bridge the gap between selling your current home and buying another. Our real estate agents are familiar with the challenges you face when trying to sell your existing home and purchase a new home, so we've put together this guide on how to bridge the gap.
If you're looking to sell your current home and upgrade to a new home, no matter if you're looking to a bridge loan or not, selling your home quickly is critical. Contact us today to get in touch with an agent and let one of our agents help you search Dallas homes for sale!
Our real estate agents are always glad to support your search for the best Dallas homes for sale. First-time buyers, in particular, find the process easier when they connect with the right real estate agent—someone with plenty of experience in their situation. Many of the big questions first-time buyers have usually deal with obtaining a mortgage loan.
They often worry about the effect of credit score on their hopes for a favorable mortgage. Most people don't have perfect credit, so they wonder if their credit will stop them from getting the home they want. Luckily, the answer to this is almost always "no." A few credit blemishes here or there will not usually disqualify you from getting a home loan. Even if you've had credit problems in the past, many lenders are willing to look at your current income and credit behavior to determine how much you can borrow.
That said, your credit score is still relevant. A good credit score can improve your loan terms. Raising your score just a few points can make a worthwhile difference, so don't feel you need perfection. Even if you have only a few months before you begin your home search, there are steps you can take to raise your credit score. This may translate to better loan rates and substantial savings over time. Let's look at some ways you can raise your credit score faster.
Contact us to find out more about your options as a first-time home buyer here in the Dallas area. The team at RE/MAX DFW Associates looks forward to helping you.
Latinos are finding their economic legs under the Trump administration, leading the surge in home ownership and income growth and record low poverty rates, according to two comprehensive new surveys. While they remain far behind whites in income, they have seen their third consecutive year of income growth and have a higher workplace participation rate, according to the National Association of Hispanic Real Estate Professionals and the Hispanic Wealth Project.
In two studies just released, the groups also provided revealing details about Latinos and their growth in America. For example, by 2060, nearly one of every three in the U.S. will identify as Latino. The reports detailed Hispanic housing and economic trends and found most signs rapidly improving. What's more, the group's goal of nudging overall Hispanic income up is showing signs of success. The group said that within the next five years, Hispanic median income will triple.
The group listed the positive trends in its income report:
Spring is prime home buying season just about everywhere. Our real estate agents always see an increase in buyers this time of year. People are less busy than they are other times of the year, the weather is pleasant, and sellers know they'll have plenty of interest in their homes. Even with more competition, it's still the best time to get the home you've been dreaming of. Here's how you can set yourself up for home buying success.
Spring really is the best time to start looking for a home for sale in Dallas. Despite increased competition, your chances of finding the right home are excellent with the help of one of our agents. Contact us today to get started.