Biggest Questions Most People Have About the Housing Market

Posted by Admirals Cove Homes on May 16, 2013 in Home, Real Estate | 0 comments

Whether you are looking to sell or buy, the housing market can be a tricky industry. It is always changing and the current state is completely different than how it was even several years ago. Here are some of the biggest questions and answers that most people have about the housing market in Admirals Cove.

How is the housing market really doing?- While the housing market hasn’t fully recovered from the crash, it is headed in the right direction. Prices are up and inventory is low, creating a seller’s market full of bidding wars.

Are banks lending?- Banks are eager to lend to people that are qualified. If you have bad credit or not enough of a down payment, it will be tougher to get a bank to lend you money. An above average FICO score, a suitable debt0to income ratio, and proof of a 20% down payment will increase your chances of getting a loan.

Will home prices keep rising?- While impossible to predict the future, it appears that home prices will keep rising the rest of the year. It is unlikely that they will never be as high as they were in 2006, they will continue to climb, especially if there are more people looking to buy then there are homes for sale.

For more information on home listings in Admirals Cove, contact Rob Thomson and the rest of the Admirals Cove team at (561) 743-0344 or acteam@wfpcc.com.