1.) There Are More First-Time Buyers Than Ever
One of the primary reasons that a pre-approval is more important now than ever is the fact that so many first-time homebuyers are entering the market. The numbers are up drastically, which means that there's more competition buying homes. At this point, it’s a seller’s market. What this means is that there are more buyers than there are homes available.
How does a pre-approval help you when there are so many buyers? When a seller receives numerous offers, their realtor will very likely advise them to accept the offer that comes with a pre-approval. There’s nothing worse for a seller than accepting the highest offer from a potential buyer only to find out that the deal will not go through after the buyer is denied a loan for the amount of the sale. Many sellers are motivated to sell as quickly as possible, meaning they’re more likely to choose your offer complete with a pre-approval even if it’s not the highest offer.
2.) Not Everyone Has Recovered from the Market Crash
The market crash has resulted in fewer homes on the market than ever before. The market crash of 2008 had a profound effect on the housing market in Frederick as well as many other areas of the country. This has left many homeowners unable to afford a new home, and they haven’t listed their homes because they haven’t recovered from the market crash completely.
When there are fewer homes on the market, a pre-approval is necessary because you never know what you will find. When you do find a home that you love in a market low on available homes, you want to act fast. The faster you act, the higher the chance the seller will accept your offer.
The Deibler Group knows that buying a home is a stressful time in anyone’s life. With years of experience in the real estate and mortgage business, we know that there’s no time to waste. Our agents know that you need a pre-approval to allow you to act fast, and our experience can help you land the house of your dreams.
Being a local company, we are very familiar with the Frederick housing market. We know the realtors, the neighborhoods, and the banks, and that makes us even better at what we do. Our goal is to be there for you from the time you decide to obtain that pre-approval until you find the house of your dreams and open the door with your new keys for the very first time.
But, what if you don't find the home of your dreams? The Deibler Group offers a construction program so you can build your perfect home if you just can't find it in the Frederick home market. Contact us to learn more about our lenders and prequalification, and let The Deibler Group help you find your next Frederick, MD home.