I sat down to ask myself today “what do the people want to know”? So, I began finding myself in your shoes. As a home seller I would want to know how the market is here in the area. As a buyer I would want to know what the market is like and how to build my credit to get a better mortgage rate. Therefore, I decided to do some research and number crunching to give accurate statistics in Fayetteville, North Carolina’s housing market. I also have provided a great link to another blog article on how to build your credit. During my research I’ve learned things are looking up in the real estate world since 2014 within the region. More people are selling their homes, and obviously that means more people are living the American dream of home ownership.
What is the “HOT SELLING & BUYING SEASON” timeframe? It seems that from May to August the market is consistently selling. I’ve been in the business long enough to know this is because of the weather, school, and kids. Within that timeframe most schools are ending for the year, and summer break is beginning. Majority of people with children do not want to pick up and move while their children have school, and most people want to be moved into their home before the school year begins again. The weather is good for the move as well. If your one of the nearly 40 million persons in the United States that is affected by arthritis the cold weather and movement is probably not a good mixture for you. For the sellers in the market your home will have more scheduled viewings during the summer. What this means for my buyers is that you have more competitors looking at the homes active on the market during this timeframe as well. This may mean that you must act fast on listings if you find one that is the perfect fit for you, especially if it is priced right. The average time frame homes within the price range of $150,000 show to have been on the market for 61 days. Homes have picked up in sales within the past two months. The month of February 2019 there was a 10% increase in closed homes on the active market. The month of March 2019 shows a 12% increase. There are many reasons for why people decide what the right time to move is for them, and here within in our area it seems that people LOVE to move when summer begins!
The real estate market within our region is picking up. Within the past few years interest rates have been low. The interest rates are still currently low compared to rates prior to the market crashing, which in turn increases the capability of consumers being able to purchase homes. Some of my clients want to know what their credit score must be to receive a home loan. Lenders have different programs they can utilize if you fall into the criteria for that program. Some are first time home buying programs, and others may be based on your credit score and income. I don’t feel like anyone should ever assume they cannot get a home loan. You may be just a few points off from being approved. The first thing you want to do is call a lender to ask them what your credit score should be, if they offer any programs, and what does your financials have to look like for these programs. I feel the need to help my buyers get better mortgage rates for their future home purchase. Real estate is a great investment within our region. I found a great article that I feel first time home buyers should read when they are concerned about their credit. Click on this link https://www.experian.com/blogs/ask-experian/credit-education/improving-credit/improve-credit-score/ to further your education on building your credit.
If your looking for a more precise statistical report on your neighborhood give us a call at Pioneer Realty and we can get you a market report today. If you’re a potential buyer and want to know more about the home buying process call us to schedule a consultation today. At Pioneer Realty we love helping our community with their real estate needs. We are here to create an experience of smooth transactions and customer satisfaction. Call for your FREE consultation at 910-401-2110!