Are you getting tired of paying somebody else’s mortgage? What if I told you it’s actually cheaper to own then rent? Well, it’s cheaper to own then rent.
One of the biggest misconceptions out there is that you need 20% down to get a house. That’s trick foolery. One attribute of a strong Realtor is how familiar they are with services and programs that benefit their clients. Today, there are several first time home buyer programs out there offering Conventional loans for as little as 1% down. Even still, standard buyers are also obtaining Conventional loans with 5 or 10% down.
With down payment options currently equating to a couple of paychecks, the real estate market is seeing more and more first time home buyers hitting the market. As a result the Simi Valley housing market is seeing a super lack of inventory. Which in turn is leading to record home sales prices.
In a nutshell, if you’re a seller, now is a great time. But what if you’re a buyer? Buying in a sellers market is not ideal, however I predict this sellers market is going to only get more competitive. The increase of investors snatching up places to lease out, will only lead to less inventory over time.
If you’re buying in this sellers market, sell in a sellers market.
Wanna sell? Or see places? Or whatever?