It’s Not Just a Home You’re Shopping For

It’s easy to get carried away playing the ‘We are waiting for the perfect home’ game. Housing markets are highly localized and can fluctuate quickly. As agents, it’s not uncommon to see a client walk away from what would appear to be a perfect fit only to ‘play the market' and end up with something more amazing.

Unless you’re intending to purchase your home with cash, it’s important to remember; the home isn't the only thing you’re shopping for! It’s no secret that interest rates have been at all-time lows for some time now. Finding the right rate is equally as important as finding the perfect home!

These low rates and virtual ‘steals’ won’t last forever.  In fact, over the last month, interest rates have climbed almost 2/3’s of a point! It may not seem like much, but just that small amount can be the difference of over $100/month in your mortgage, or worse… a decrease in the total amount you may have been pre-qualified for just a month ago.

We know that the housing market is very localized. What is happening in Las Vegas may be very different than what is happening in Seattle; the same for Chicago and Cleveland, Washington DC and Boston, and so on.  The interest rates however aren't quite the same. They work on a broader spectrum overseen by the Fed at a national level.

If you are (or have been in the last month) actively involved in the home-purchase process, this may be a good time to reach out to your lender and confirm your rate and pre-qualification status.  If you are planning on entering the home-buying market, this is still a great time to purchase, but remember; you are not only shopping for a home, but also for a lender who can offer you the best deal on the money you’re going to spend on this investment.  Rates change daily, and it is critically important to work with a lender you feel comfortable with to ensure everything is done to secure you the best rate for you loan.

If you don't have a preferred or trusted lender, reach out to a trusted real estate agent. Often times they can refer you to a reputable lender with whom they trust and have received positive feedback from previous clients.

Christopher Greenleaf
The Greenleaf-Elving Group
Real Estate Consultants
Keller Williams Realty Southwest
6180 Brent Thurman Way - Ste 100
Las Vegas, NV 89148
(702) 900-4741
info@captaurre.com