Availability of existing homes or Real Estate for the first time home buyer(s) in Colorado Springs and the surrounding area is at a historic low. First time home buyers looking for a home with a purchase price of $200,000.00 are being met by other buyers looking at the same properties and it is creating a depressing feeling among the buyers. There is simply not enough existing homes in that price point for the demand.
Buyers that are looking for homes need to be ready to buy when they find a property they are interested in, as tomorrow it will likely be under contract with someone who was prepared.
Yes!! If you want to buy a home, see your lender, see a lender, talk with more than one lender!!
Ask about the Grants, Down Payment Assistant programs, are you eligible for the VA Loan program, what is an FHA Loan and why and when would you use a FHA203K program?
For all of you that are a first time home buyer:
Get your financing in order, save for your closing cost if you can, talk to a lender and have a very serious discussion about what you need to do to achieve that Dream Home!