Everyone is talking about the hot housing market in the Twin Cities. The number of home listings in the metro area is at an all-time low and the shortage of available houses is even more severe for those homes priced for first-time buyers.
When dealing with a market like this, it pays to be prepared.
Our home ownership advisors suggest:
1) Attend a homebuyer workshop
Homebuyer workshops, such as the HUD-approved HomeStretch Workshops offered by PRG, help you understand the home buying process even before you begin to go to open houses.
2) Meet with a homebuyer counselor
Knowing what you can afford—and what you can’t—will save you time and heartache. PRG offers free, one-on-one counseling that can help you assess your financial picture and determine what price range of home fits with your lifestyle.
3) Get pre-approved for a mortgage
When you know that you’re approved for a mortgage (and for how much), you will not only have a better experience shopping for the right home but your offer on a home will be viewed more favorably by the seller.
Still have questions about getting started in this market? Contact one of our home ownership advisors.