Real property provides much needed shelter for individuals and for families. Whether a decision is made to buy a home or to rent a home, a knowledgeable Real Estate Professional can provide objective insight. Kevin Strawter shares information about the current home buying and home rental environment as we enter the last quarter of pandemic year of 2021.
Homebuyers are encountering more challenges in 2021 versus previous years.The Covid-19 pandemic has caused hardships that are far beyond infections and medical concerns.
With a large percentage of employees working from home or from remote locations, many companies have decided to relocate to more affordable metro areas.
Leaving costly areas, such as New York and Silicon Valley for more affordable hot spots, such as Orlando, Tampa, Austin or Houston has created a nationwide demand for move-in ready properties along with paying well above asking price.
Buyers who are properly prepared to purchase a home in 2021 may have greater opportunities for success.
Securing a mortgage loan approval, maintaining a stellar credit score and working with an experienced Realtor are prudent steps toward home buying success in 2021. Prices are still climbing but at a much slower pace, and homes average less than 5 days with contracts accepted.
When a home buyer wants to move, however, several offers to purchase a house are unsuccessful, a decision might be made to rent for a while. Realistically sky-rocketing rent prices historically and low interest rates have made the monthly cost to buy a starter home lower than monthly renting across the board in many metro areas.
Unfortunately, the current rental rates for a single-family homes and for apartments are skyrocketing.
Folks who are qualified to rent a home or an apartment are often able to secure a mortgage loan.
In many instances, the amount of money that a tenant pays to rent a home is more than what it will cost to buy a comparable home.
The apartment market has greatly benefited from an overflow of prospective homebuyers who could not secure an agreement to purchase a home.
I suggest to work with Kevin Strawter, a Professional Realtor who fiercely negotiates to help assist buyer in finding a home. Contact Kevin Strawter today at 407 479-8583 for locating your family the perfect home in this tough buying environment.
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