Asked by BT, Seattle, WA • Thu May 17, 2012
I'm a 1st time homebuyer who's been house hunting for 3months in N. Seattle. My personal experience seems to indicate that the housing market is blooming. Many new listings that go on the mkt would quickly become â€œpending,â€ sometimes even within a few days(before I even get to schedule a visit, and I religiously check Zillow/Redfin everyday!) When I found a house I was interested in, there was a flood of offers that bid up the final price 15% more. Realtors say I should get my hands on a house ASAP before the 2006 prices return. All of this makes me anxious&hasty abt making a decision soon. But I also wonder if the 2nd subprime crisis is near if FHA loans make up 30%of the mortgage financing today. I have near-perfect score credit, full-time job, pre-qual letter, and the plan to put 20% down for the traditional financing. I don't wanna hurry into a situation and get screwed over in the future but I also don't wanna miss on a wave of opportunities (time to buy?) either. Any advice? Thx!
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