Get ready to score.
Dear friends,
I’m only bragging a little when I say I am competitive. Let’s just say Loan Officer Colby and I (a.k.a. “Smash & Cash”) left the competition at the Core Residential Group Annual Client Pickleball Tournament 🏓 in the dust.*
And when it comes to home buying, we are on top of our game, too. Especially now that we are finally in a buyer’s market. That’s right, even in Austin, inventory is up, prices and interest rates are holding steady, and sellers are picking up more of the closing costs.
So let’s get together and get a game plan you’ll relish.
(*except the pair that came in first. But everybody else we really sliced up 🥒.)
Buyer’s market: It’s the real dill.
The back and forth of rates and prices the past few years have left a lot of us feeling sour. Fortunately, times are much sweeter now if you are a buyer. But be quick, May is homebuying season. Families are looking for good school districts; empty nesters are downsizing. Get pre-qualified so you can be ready to serve up an offer faster than the competition.
Don’t whiff on your tax return.
If you received a tax refund, it may be tempting to use it to pay down debt. However, that may not be the best use if you are thinking of buying soon. The refund can be used for a down payment. Talk to Mark about how to make the most of your refund, now and for the long game.
Being prepared to buy means planning ahead. Be smart about your credit; don’t jump on any new credit card offers or back-handed short-term loans. Get your paperwork ready. Make sure to let us know if you have any collection notices. Stay in your same job if you can. If you are self-employed, be ready with detailed records of your income.
Work on your net game.
Just a reminder, investing in a home is the best way to build your long-term net worth. With every payment you are building equity for yourself and your family, not the landlord.
Happy homebuying!
Mark “Cash” Smith