Is it too late to list your home? As we're heading into fall, most of you know that we sell a lot of homes over this next month, and then the market slows down. People take their homes off the market and put them into a rental pool, thinking they can net more money in the spring. However, we do not have many properties on the market right now. We only have 850 properties listed. In 2007, we had about 4,000 homes on the market at this time. If you're thinking about selling, you need to know that we are in a solid seller's market right now. There are a lot of buyers looking for homes, and if you list now, you could get some multiple offers.
We know that a lot of you may have your homes in a rental pool. We know how to work with the rental companies to show your property. This is the time when people look forward to snow. They are planning vacations to Summit County and Vail for the winter. The buyers out there are serious, whether they are looking to buy or rent. Overall, now is a great time to consider selling your home. If you have any questions about listing, give us a call or send us an email. We look forward to hearing from you!
Today we'll discuss the difference between a pre-qualification letter and a pre-approval letter. A pre-qualification letter is very easy to attain. You simply call a lender and tell them your name, address, social security number, and how much money you think you have. The lender runs a credit report, and then, based on just that small amount of information, they type up a letter saying that you are pre-qualified. In order to get a pre-approval letter, you have to go through a real process. You provide your taxes, paystubs, and bank statements, and they run a credit report. When we send a pre-approval to a seller, they know that the lender is sure that you are truly approved to buy a home.
In our current market, we're starting to see multiple offers and a lot more competition. Having a pre-approval letter puts you far ahead of other buyers who only have pre-qualification letters. We do ask our clients to get pre-approval letters while we're out looking at properties. That way, when we find you the right home, we know that we are ready to put in a strong offer. Whether you're getting a pre-qualification or pre-approval letter, it is typical that you would pay for the credit report. However, this is the only cost to our buyers. If you would like to get a pre-approval letter before looking at properties, give us a call for a list of our preferred lenders.
