If you’re thinking of buying a home please do one thing first.  Go to a LOCAL mortgage broker and find out FOR FREE what your possibilities are.  Don’t make yourself crazy thinking you don’t have enough, or you have more than you actually do.  DO NOT look at your credit rating on an ap and think you know anything.  Go to a local company who does everything in house from the beginning, through underwriting, to the end, all in the same office.  DO NOT go to a big bank or choose a bank because that’s where you’ve always done business.  If you think you’re ready to buy now, or if you think you’re 10 years out, you’re just guessing if you haven’t been to a lender in the last six months.

When you go, make sure you end up with a clear knowledge of what happens.  You need to know all possible loan products available to you, interest rates, monthly payments, time needed to close, down payment, debt to income ratio, and a clear understanding of what you can and cannot do.  Then, and only then, will you be able to determine what you want within the realm of your possibilities.  Then, and only then, will an agent be able to truly help you succeed.

I often hold open houses for listing agents to see if there are shoppers out there who need my help.   The number of new buyers to the market in the last few weeks has been remarkable.  I have been telling you for several weeks now that the market will start to pick up and, sure enough, it is. Over the last week in Seattle pending and sold listings are more than double new listings.   42 new listings, 156 pending, 110 sold in the last seven days in Seattle, from Edmonds to Rainier Beach, according to the Multiple Listing Service.  Tis is almost a complete reversal from only a few months ago.  And even more alarming is that the overwhelming majority of new buyers to the market (that I have met) have not yet spoken to a lender.

Can you smell the opportunity?  Look back at my previous blogs.  Look at the facts then get your own facts straight.  Most of these lenders will do it over the phone and on line.  YOU DON’T EVEN HAVE TO GET IN YOUR CAR (or ride a bus).  They can set you up in a heartbeat!  Now you’ll have an edge on what is certainly a ground swell of buyers trying to get their piece of Seattle. So There!

A note on last week’s Wednesdays, So There

I took the week off.  So There.

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