Interesting question we received yesterday.
"Is it true, there is an investment company going around buying up all the real estate in town? My friend is trying to buy a house and lost out on several of them to cash buyers. Thanks."
Here is the response: CASH (or a pre-qual letter) is KING ! For everyone who has been waiting to buy, it's a buyers market and properties are flying off the market - if you have cash (or a pre-qualification letter from a lender, and have money down on that loan already ready to go!). If you find a house you like then try to get your ducks in a row - it will be gone..you will be sad and then mad you weren't prepared!
Especially first time buyers, (the new generations of young families and buyers) - their parents and grandparents are giving them the cash they need (and they have good credit - simply because they are young enough to not have changed it to bad credit) - theses folks are easily qualifying for loan interest loans with exceptionally low housing prices.
Losing a home because of multiple offers is just awful! This can be avoided - if you allow us to assist you in all your real estate needs.
Thank you to Mo for his question.
Happy May 1st everyone.
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