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NEWS

ON KTHV: BUYERS MARKET

Posted by Blake Montgomery on Feb 21, 2019, 1:45:30 PM
Blake Montgomery

IF YOU ARE THINKING ABOUT PURCHASING A NEW HOME NOW MAY BE THE BEST TIME. WATCH ALLAN AND LAURA TO LEARN MORE.

FROM FEBRUARY KTHV INTERVIEW WITH ALLAN HUDDLESTON

No headphones? No problem? Read the transcript below!

Laura: "Thinking about purchasing a new
home now may be the best time to buy, we have Allan
Huddleston from Bank of Little Rock
mortgage to tell us so we are entering a
buyers market, potential buyers markets"
Allan: "Right yes good morning"
Laura: "Good morning so this
is a topic for you if your ears perked up
because you said okay I'm ready I'm
ready to take the plunge this is
something that you'll want to hear."
Allan: "Right absolutely, so again we are potentially
entering entering a buyers market any
time we kind of get to that spring
season you see more and more folks who
have thought about listing their homes
for sale  actually jump off the fence
and do that they'll typically kind of
wait through the winter months until the
weather warms up and the flowers bloom"
Laura: "I've always been curious why winter seems to
be kind of a dead season.
Allan: "I think ,no question, a house just looks
better in the spring that's blossoming
and blooming so it's a good time. So the
potentials there because basically a
buyers market is based on inventory now
because of the more houses that are out
there for sale it can improve the buyers
bargaining position or negotiation
improves their negotiation so that's
where we are entering that season and
and we don't know for sure but hopefully
we'll see more homes come up for sale in
the spring and improve that position."
Laura: "Okay so say we do get into a buyers
market what are some things to note, that
we can expect."
Allan: "Yes so in a buyers market
and things you can expect are it can
lower prices, for the buyer you know when
there's more homes out there they have
more options you've got more options
that can bring the price down you know
on the home so that can certainly
benefit the buyer."
Laura: "Something interesting
we just read a story on if you heard it
earlier about more people staying in
their homes that the elderly population
staying in their homes and keeping those
homes off the market does that affect
anything here."
Allan: "It could certainly I
didn't hear that but it certainly could
if you have individuals staying in their
homes so that can certainly affect the
market that's going to reduce the number
of homes that are out there for
sale, obviously, so we'll just have to
wait and see if that plays out.
Laura: "Any other
suggestions for people maybe even
first-time buyers that this is a
potentially a good time any suggestions
for them or tips and advice?"
Allan: "I would
absolutely say get pre-qualified okay
it's free to do it it's not going to
cost you anything so there's no reason
not to do that. You can go in submit an
application, we can just at the core at
the base just look at your income, look
at your assets, look at your credit, I
just make sure that at a minimum you are
approved overall but more importantly
there's an amount that you're approved
for so you're not going out there seeing
the house that you love and then finally
now after you've made an offer
oops, I can't afford it"
Laura: "Yeah I saw you
wrote on there act quickly absolutely
absolutely so definitely go out get
pre-qualified have that step completed
before you start looking."
Laura: "Great Allan
Huddleston thank you so much for joining
us this morning we appreciate you"

Topics: mortgage preapproval prequalification Get preapproved online home ownership Local Community On Time Closing Home Loans Pre Qualification Mortgage Loans Rent or Buy