Buying a Brentwood Home with a VA Loan August 2012
A client thinking about Buying a Home in Brentwood with a VA Loan sent me a sad e-mail the other day. She has decided to wait a few months because the market is so tight right now and she is not sure she can get a home with no money down, even though she has excellent credit and a large loan amount.
Well I wrote her back and explained why this was a great time to Buy with VA in Brentwood Ca. Yes the market has been very competitive and low down payment buyers have been frozen out by low appraisals. (How are Low Appraisals hurting First Time Buyers?)
However, there is some good news for buyers like her:
The high offers and purchase prices we have seen will increase what other homes are appraising for and we can now offer more; like she wants on some homes.
Higher prices makes her excellent credit and approval amount ideal. Many buyers cannot afford that much.
Looking for a higher end homes removes the competition from investors.
There are some sellers that reserve homes for owner occupied buyers only during the initial sale period.
Even though the market is still a seller's market it is slowing down somewhat. There are fewer cash offers. Price increases are slowing down and with kids back to school there are fewer buyers.
With prices up more homes should be on the market.
I work with many buyers in this situation and get them into homes.