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J. Scott Harris – MortgageXperts.com

Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them! We close loans every day that Banks would not, or could not approve. NMLS # 375517 – Mobile 214-435-8825

J. Scott Harris – MortgageXperts.com - Call us 1st to AVOID mortgage problems, Call us 2nd to SOLVE them!  We close loans every day that Banks would not, or could not approve. NMLS # 375517  – Mobile 214-435-8825

First-Time Buyers Facing Higher-Priced Housing Market

 

People trying to buy their first home are facing an increasingly expensive housing market, with home values on entry-level homes rising the fastest in more than half of the major metro areas.

According to new data from Zillow, more than one-third of the homes up for sale are in the most expensive segment. Overall, there are 5.9 percent fewer homes for sale than a year ago, and the inventory for entry-level homes is 10.4 percent below last year’s level.

Increasingly, entry-level homes are becoming more expensive in the hotter housing markets. Zillow noted that the median value of entry-level homes in Denver rose 20 percent year-over-year—in comparison, the pricey San Francisco market saw an 11 percent year-over-year increase in median values on this housing type, while the tumult-driven Detroit market experienced a 3.2 percent decrease in entry-level home values.

“It’s going to be a tough home-buying market this spring, especially for first-time buyers or even people looking to move up into a slightly more expensive home,” said Zillow Chief Economist Svenja Gudell. “In order to stand out in a competitive market, buyers should get pre-approved for a loan, find an agent who has experience with bidding wars, and consider coming in at the asking price, so the seller knows they’re serious.”

 

Buying a home is now easier than it has been in years.

Even if another Bank or Lender has said “NO,” we will work with you until we can say “YES.”


Call us 1st to AVOID mortgage problems,
Call us 2nd to SOLVE them!

Click Here to start your quick Free Credit Analysis & Loan App Now!

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J. SCOTT HARRIS | VICE PRESIDENT & BRANCH MANAGER

NMLS # 375517  | (M) 214.435.8825 | (F) 866.343.3688
jharris@goldfinancial.com  www.goldfinancial.com  |  Apply Now
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885 E Collins Blvd Ste 110
Richardson, TX 75081

Closing FHA / VA & USDA Loans at 580+ in Texas, Oklahoma & Louisiana
Gold Financial Services, Inc. is a Division of Amcap Mortgage, Ltd. NMLS #129122. Equal Housing Lender

 

Category: Mortgage News