Post to Facebook on 5/6/2020 12:19 AM
Commenting on “Home Loan Pre-Approval: How To Apply”
https://www.canstar.com.au/home-loans/get-home-loan-pre-approval/
During the pandemic lockdown, the real estate market went belly up. Many property owners held back their properties, because most potential buyers were not game enough to buy a property by taking a virtual tour inspection.
Although some real estate agents tried hard to adopt new technology and conducted online auctions, potential sellers were not that keen, and withdrew their properties from auction, or changed to private sale instead.
Now that the lockdown is relaxed, more and more properties are coming onto the market. I cannot foresee many sellers are prepared to lower their prices yet, and agents are not prepared to advise their clients to be realistic, or else the agents will miss getting the listing on their books.
The real estate market is a bit erratic in the next few weeks on the upward climb, but the trend is likely to reverse after September when Jobseeker scheme stops, and reprieve on mortgage repayments discontinues.
With that in mind, if you have saved enough deposit for a target property and are ready to buy, then it is time for you to contact a lender, be it a bank or mortgage broker to get an idea how much you are eligible to borrow.
The following is a very good article on what pre-approval is about and how t get one.
Thank you for reading.
Commenting on “Home Loan Pre-Approval: How To Apply”
https://www.canstar.com.au/home-loans/get-home-loan-pre-approval/
During the pandemic lockdown, the real estate market went belly up. Many property owners held back their properties, because most potential buyers were not game enough to buy a property by taking a virtual tour inspection.
Although some real estate agents tried hard to adopt new technology and conducted online auctions, potential sellers were not that keen, and withdrew their properties from auction, or changed to private sale instead.
Now that the lockdown is relaxed, more and more properties are coming onto the market. I cannot foresee many sellers are prepared to lower their prices yet, and agents are not prepared to advise their clients to be realistic, or else the agents will miss getting the listing on their books.
The real estate market is a bit erratic in the next few weeks on the upward climb, but the trend is likely to reverse after September when Jobseeker scheme stops, and reprieve on mortgage repayments discontinues.
With that in mind, if you have saved enough deposit for a target property and are ready to buy, then it is time for you to contact a lender, be it a bank or mortgage broker to get an idea how much you are eligible to borrow.
The following is a very good article on what pre-approval is about and how t get one.
Thank you for reading.
