Sundarramanh…, Home Buyer in

I'm planning to buy I home in Grapevine for around 200,000. Are there are now more buyers in the market and is it better to wait until Dec to?

Asked by Sundarramanh@gmail.com, Wed Jun 12, 2013

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Right now there are a great deal of buyers out on the market attempting to take advantage of the rates while they last. No worries however, as long as you have an experienced agent who keeps your search database up to date you'll be ahead of everyone else out there.

My biggest worry would be how high will the rates be when financing if you wait. Many lenders are estimating us to see 6% by the end of the year do to our US Treasury Bond declining in value. Already in the past moneth I've begun seeing rates go up by about 1 point.

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1 vote Thank Flag Link Mon Jun 17, 2013
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Flag Fri Jul 19, 2013
There are definitely more buyers than properties at the present, our market just flipped overnite, we are now in a sellers market where there more buyers than properties. December is not that far away, you need to get prequalified and since December is your target date, have them go ahead and do a full approval on you, then all you need is to update your information with the lender as the time nears.
The most important thing is don't go out and and talk with every lender in town, this causes a hit on your credit score & brings it down, just stay with one lender at the present. Be aware of what is on the market but it will not be there in December, properties are selling fast and with multiple offers. Just keep up with the market.
0 votes Thank Flag Link Thu Jun 13, 2013
I would definitely start your search. Make sure you speak to a lender now and get a pre approval so you are set if you need to make a quick offer. The market has changed this year and inventory is limited. Rates are still SO incredibly low you will want to lock in at that low rate. Buying takes a lot of patience but should be a fun experience. Good luck!
0 votes Thank Flag Link Wed Jun 12, 2013
Good Afternoon,

First talk to your lender or bank and make sure that you are qualified. If you are then, I would say to go ahead and start looking. You never know what the market is going to do and right now is a good time to buy. I have a program that you can go into, to look at the homes that are available in your market. It is live time and you can see when homes go on the market and when there becomes an offer on one.

Free Home Search: http://tinyurl.com/kellysignup.

If you have any other questions, do not hesitate to call or email.

Have a good day!
0 votes Thank Flag Link Wed Jun 12, 2013
Tick tock, tick tock. Wait for the extra buyers to push up prices? Interest rates to go higher? Both of those will happen if your market heats up a little.

I have witnessed buyers procrastinate more than a hundred times waiting for a better deal and it cost them an arm and a leg. If you are going to borrow part of the purchase price put a pencil to it and see what a 1% increase in the interest rate does to your hard dollar cost. Then try a 2% increase, check out what 3% does. My guess is the 3% bump will amount to more than a $100,000 in EXTRA interest over 30 years.

Jim Simms
NMLS # 6395
JSimms@cmcloans.com
Financing Kentucky One Home at a Time
Web Reference: http://jamessimms.com/
0 votes Thank Flag Link Wed Jun 12, 2013
There is no good way to predict this.
Grapevine has always been a pretty tight market.
I personally think the market is strengthening....so if you are ready to buy now, don't wait.

There are lots of people moving here, so demand should only increase not decrease.
Interest rates could go up. Run your rate calculators to see what waiting will cost you in terms of monthly payment.
Prices have been going up, so waiting may also cost you money on the purchase price.

Now everything could change in an instant ....stock market could crash, companies could stop hiring, interest rates could double, European economy could fail, Chinese economy could stop, Japan could go into recession, government could stop buying home loans, all these things there is no good way to predict or predict how it would change the housing picture.

The good news about Grapevine, is there is virtually no new development, it is close to several demand generators, like the airport and Las Colinas, it is a nice place to live, generally low crime, and great schools.

Check out the homes for sale in Grapevine here at this link:
http://www.metroplexhomesalesinfo.com/community/area/Grapevine/
0 votes Thank Flag Link Wed Jun 12, 2013
Bruce Lynn, Real Estate Pro in Coppell, TX
MVP'08
Contact
GREAT question it all depends on many factors of when to purchase a home, AND keep in mind you receive annual tax benefits IF you purchase NOW you benefits apply for approx. 5 more remaining months.

Are you qualified for a loan ? If not I can refer you to a great mortgage broker .

Grapevine homes for sale Grapevine TX - website updated daily
http://www.lynn911.com/Web/AR287090/CustomContent/index/5130…


Contact my office today where I can show you many amazing homes work with your family specifications.

Lynn911 Dallas Realtor & Consultant
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972-699-9111
http://www.lynn911.com 100's of Dallas homes listed for sale or lease

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0 votes Thank Flag Link Wed Jun 12, 2013
Hi Sundarramanh
Yes there are more buyers in the market right now, but there are also more homes available this time of year as well. The challenge you have with waiting is that the market for housing is difficult to predict, last December was very busy for most agents, also you can not predict interest rates. If you are needing to move start looking as as soon as possible. If you are looking for investment property then I also would start looking as soon as possible. Either way the key to finding the right house is to start looking and to move forward as soon as you found it. Why wait to find your dream home?
0 votes Thank Flag Link Wed Jun 12, 2013
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