Posted: 11/06/2018

The housing market as we’ve come to know it may be changing.

Overall flattening and a downtick in sales are a part of the current trend, which could lead to an uptick in inventory and a transfer to a buyers’ market.

As these symptoms of a changing market become more prominent, a fundamental shift may be brewing. These changing dynamics mean individuals entering the market as buyers may be gaining the upper hand.

Evidence for the change is mounting in the Bay Area

In August, total sales for Bay Area homes fell nearly 10 percent. While sales increased from last year by 1.8 percent, the total volume of sales fell nearly 20 percent of average. This hasn’t been seen since 2011. In addition, summer sales were the slowest in seven years, the traditional “busy season” for real estate.

There’s a direct line between these numbers and home affordability. A flattening of home prices in the Bay Area is not uncommon after a period of accelerated appreciation and is actually good for a healthy sustainable market. The current climate could lead to a boost in inventory.

For some, the changing market provides a new outlook.

Take advantage of today’s market and get preapproved

If you have been waiting for the market to take a turn, now might be the right time for you to purchase a home. The first step to buying a new home is getting pre-approved.

If you get pre-approved utilizing our exclusive Keys on Time Program, you can enter the housing market knowing that your home financing comes with a fully underwritten preliminary pre-approval. As a result, you will have an idea of the amount you feel comfortable spending on a home, which will assist you as you view various listings. Lastly, sellers may view your offer more favorably when compared to other bidders because yours comes equipped with a financing pre-approval taking the guesswork out of your qualifications and a high chance of closing on time.

Our Keys on Time program offers you the following:

  • A fully underwritten pre-approval.
  • The ability to waive the loan contingency when a purchase offer is submitted (since a full pre-approval has been granted), which will help the offer stand out.
  • Assurance for the seller that the offer will close on or before the close of escrow, and that there won’t be any burdensome delays.

All of this combined helps home buyers get an edge on the competition and close deals in the competitive Bay Area market.

If you’re ready to take this exciting step, please do not hesitate to contact us. Realize your potential and get preapproved to take advantage of a changing, more buyer-friendly market.

*The views, articles, postings and other information listed on this website are personal and do not necessarily represent the opinion or the position of American Pacific Mortgage Corporation. For more information please visit our Disclosures page:  apmortgage.com/disclosures