Don’t Let Fear Stop You From Applying for a Mortgage

A considerable number of potential buyers shy away from jumping into the real estate market due to their uncertainty about the buying process. A specific cause for concern tends to be mortgage qualification. For many, the mortgage process can be scary, but it doesn’t have to be! In order to qualify in today’s market, you’ll need to have saved for a down payment (73% of all buyers made a down payment of less than 20%, with many buyers putting down 3% or less), a stable income and good credit history. Throughout the entire home buying process, you will interact with many different professionals,… Read More

Supply & Demand & Bidding Wars

Just like with any product or service, the law of supply and demand impacts home prices. Any time that there is less supply than the market demands, prices increase. Just like many areas of the country, the supply of homes for sale in the Summit County starter and trade-up home markets is so low that bidding wars have ensued. According to the Summit MLS, 1,345 residential properties listed at $750,000 and under sold at an average of 98.32% of list price, with several of them going above list price due to multiple offers.  649 residential properties listed over $750,000 sold… Read More