Looking to Buy a New Home? Lower Your Max Price Filter!
It’s become all too common in recent times: homes are being listed at a favorable price, a buyer falls in love with the property, and the listing is all of a sudden a lot more than what was initially mentioned in the asking price.
The real estate market of today remains extremely active and the level of demand remains high. Avoid the unfortunate situation of an affordable asking price being turned into an out-of-budget offer. The solution is easy, lower your max price filter when browsing online for your new home. Read on to learn more.
The Housing Market in 2022
The housing market in 2022 is the same as it was in 2021, hot hot hot! We have yet to see a dip in buying-and-selling frequency this year, which is expected to continue barring any catastrophic change in the market conditions. What’s more, competition amongst home buyers in 2022 remains very intense.
As the housing market continues to remain strong in 2022, individuals are feeling more motivated to buy a new home when conditions are favorable. When looking at purchase prices today, the value of a dollar seems to have depressed. One out of every ten homes in America is going for over one hundred thousand dollars. This is significantly more than seen in previous years. This is why a lot of buyers in 2022 make the mistake of putting their max price filter too high, falling in love with a home that is actually out of budget.
Adjust Your Filter
Because the housing market is so competitive, properties are being seen to sell at higher prices compared to their initial asking price, or the listing price online. This is why it’s important for new and experienced home buyers alike to establish a budget for their new home mortgage, and browse homes strictly within the budget they set.
Shopping for a new home online with a lower max price filter eliminates the possibility of falling in love with a home that is initially within budget and later offered out of budget. Adjusting your filter while browsing online also ensures the affordability of your dream home if any maintenance needs to be done to the home or any additional charges are added on.
At Equity Mortgage, we work with a variety of clients with varying degrees of mortgage needs. In the housing market of 2022, many online home buyers are seeking additional guidance when it comes to finding and purchasing their new home while staying within their budget. We offer our clients expert advice and alternative options to their current home loan programs with our wide range of mortgage products and flexible lending practices.
Experience fast, professional service for coronavirus mortgaging today and into the future. Contact us for more info or give us a call at 1-800-332-9221.
* Specific loan program availability and requirements may vary. Please get in touch with the mortgage advisor for more information.