We sat down with real estate professional Jeanne Redlinger from
- Can you provide an overview of the market right now (what are some common trends you are seeing – rates, inventory etc.)?
- As most of us have seen, rates have increased in the last month or so. Inventory has increased a bit as well. It hasn’t been as chaotic with all the multiple offers on so many properties that we’ve seen in the last few months. Properties are staying on the market a little longer and sellers are still getting great offers. While things are easing up, it is still fairly competitive.
- Considering the competitive market right now, what are your top tips for buyers to make their offer more appealing to a seller?
- Keep the escrow period short. Offer 30 days or less and make sure your home loan lender can perform before committing to this timeframe. That’s one of the reasons my buyers choose BluFi, because they stand by their word when it comes to closing dates.
- Present an offer with a fully approved loan. Many times buyers will just make a quick call to a lender and get their prequalification letter, but sometimes that isn’t good enough, especially if you’re up against other buyers for the same property. Use a lender that puts together a very detailed approval that can help sellers feel more comfortable choosing your offer over other offers. Using a BluFi loan with a client we even had a VA loan approved over an all-cash offer and three other conventional offers with no money down! We had a positive experience with a BluFi’s loan officer who was always available to answer questions in a timely fashion and guide us throughout the whole process.
- Communication is huge in this process. You always want to keep the sellers and their agents comfortable and confident that everything is moving ahead as scheduled, so your agent and lender should both be strong communicators.
- What are some things buyers should be wary of when they are looking to purchase a home?
- Start with a home inspection. It’s crucial to know the condition of the property. Read through all of the disclosures! This is your chance to find out anything that could affect your purchasing decision. You don’t want to find out any major problems after you close.
- Make sure you’ve discussed your financial situation with a lender like BluFi and you’re confident that when you present an offer, you’re in a position to close the deal.
- What’s the best advice you can give for someone who is looking to buy a home?
- Coming from a lending background myself, always understand exactly what you are approved for before you start looking. No sense in looking at property that’s too expensive. I started in the lending industry back in the mid 70’s through the 80’s. Then in the year 2000 I worked again in the lending industry for more than three years before I decided to get my real estate license and sell homes. My lending background has helped me tremendously in recommending great lenders to my buyers. It’s one thing to make an offer and get it accepted. It’s a whole other thing to make sure you have a solid loan in place to close the transaction.
Jeanne concluded with these real life examples to share her experience with our team at BluFI. The extra vote of confidence and recommendation from Jeanne is so appreciated! Thank you, Jeanne!
“I also want to mention a couple of transactions that were closed by BluFi for my clients this past year. One involved a woman who was on workman’s comp, had social security income, a daughter with a disability who also had social security income, and a small salary working at a store. Our lending team at BluFi was able to get this family a down payment assistance loan through the state of California. They went above and beyond to put this difficult transaction together. Their efforts mean this family now has a beautiful place they can call their own.
I also had another buyer who ended up having to present an offer on a property and close in 21 days. It had to move fast. BluFi made it happen within that tight time frame and made another family so happy. This particular family made offers on eleven other homes before they got this one. Each time our BluFi mortgage banker was available to put together the preapproval letter and never let us down. I can always count on the professionals at BluFi Lending to be there whenever my clients need them.”
-by Jeanne Redlinger
Realtor, Richard Realty Group
Contact: 760-518-4434 (m); firstname.lastname@example.org
Published on 2013-10-10 17:59:12