(NAPSA)—Whether you’re diving into homeownership for the first time or looking to move into a larger or smaller home, here are the three things you should know before you begin your search this Ee — spring: 1.Credit is still tight but improving. Mortgage rates are below 4 percent and credit is more accessible after years of stringent underwriting. In fact, an increasing number of lenders now offer loans with aslittle as a 3 percent down payment. You'll need a preapproval from a lender to determine the amount of money you're qualified to borrow. With competition robust in many A gradually improving economy, robust job growth and spectacularly low mortgage rates means the appetite for home purchases is as large as it has been since before the Great Recession. expert companion to finding homes im your price range and, with your preapproval, can market you to sellers as a serious buyer. 2.It may take time to find your “dream home.” The most recent data from the National Association of Realtors (NAR) shows that the supply of existing right one comes along. A Realtor can develop a negotiation strategy to help make youroffer stand out amongothers. 3.Homeprices are steadily rising. With demand rising and listings scarce in many markets, NARforecasts home prices will increase nationally between 4 and 5 percent this year. In cities with the tightest of supply, prices could expand above double-digit more buyers competing for a fewer number of homes for sale than a year ago. As a result, you'll likely be clicking on the same limited online listings and brushing shoulders against those same buyers at open houses. Be prepared to act quickly if you believe you’ve found your ideal home. In markets with tight supply, multiple offers and bidding above asking price are the norm. It’s not uncommonto lose out on a few homes before the Be diligent and realistic about what you can comfortably afford. It’s easy to fall in love with a home that’s outside your means. If you find yourself in a bidding war, be prepared to walk awayif the price surpasses your budget. Patience is important—the right home will come along whenthetimeisright. When you’re ready to get started, you can find a nearby Realtor at www.realtor.com/ GetRealtor and begin the exciting journey to buying a home. markets, a Realtor can be an homes for sale is insufficient, with appreciation.
