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A new report is highlighting some of the current trends in the real estate market in terms of optimism from sellers and buyers.

Data released from the National Association of Realtors (NAR) shows the following:

  • 46 percent of people believe right now is an ideal time to sell.
  • Slowing price appreciation is one of the main reasons why home owners think they should sell.
  • 38 percent of potential buyers think now is a good time to buy.
  • 63 percent believe home prices went up in their communities over the last year.
  • 43 percent think prices will remain the same in the next half year.
  • 27 percent think it would “very difficult” to qualify for a home loan given their particular financial standing.

There is a lot to unpack there, chief among them is that generally, buyers and sellers are confident that now is a good time to make a move. However, that last item about qualifying for a loan is something we need to discuss further.

There are many misconceptions out there about getting approved for a mortgage. Affordability, credit scores and the down payment are generally the main reasons why people think becoming a home owner is out of reach. It is important to understand, however, that there are various loan programs available, including FHA Loans and VA Loans that offer more lenient credit score and down payment requirements. There are also various other benefits to these loan programs that can help alleviate some of the concern when it comes to affordability.

If you believe now is a good time to buy, and have any questions about your options with these loan programs to purchase a home in the Roseville area, make sure to contact one of our mortgage consultants today!

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