Renters will soon be Buyers

It looks like we’re going to see a lot of people make the transition from renter to homeowner in the coming months. According to the latest data it’s becoming more and more impossible to find decent rentals. The markets are getting more competitive and good deals are scarce.

So that sounds all well and good for us, right? We love hungry people looking to make the move to homeownership. But there just might be a catch. Not everyone is going to be able to become a homeowner so easily. The 3 main hitches are

1) limited supply – not too many folks are interested in selling at this point

2) High prices – the few homes on the market are in high demand which equals overpricing

3) strict lending – Uncle Sam is still holding the reins pretty tight on things

Still there’s reason for optimism. Lots of motivated buyers can mean some prime deals for the right real estate whiz. So keep your eyes open for the right kind of buyer, and the right kind of property.

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