Today in Kern County the inventory is low and the prices are rising slightly due to lack of inventory, I want the public to know that in Kern the FHA loan limit has been raised to $294515 in 2018, that is what FHA will allow you to borrow to buy a home, of course that’s if you qualify. A home priced above that will require either the buyer to have the additional money or the seller to come down to the buyer’s lower offer. Of course most of the time the seller wants what the home is worth and won't come down. So to analyze this bit of information any home priced below $294,515 will get more attention than and a quicker sale than one priced over. I am only referring to anyone wanting to get an FHA loan. Of course you can use conventional financing and your down will be at least 10% and you can go as high as your income qualify your to buy. With good credit a Conventional loans are available for less than 10% down it depends on you Credit score. No Credit then ask me about a Hard Money loan. You will need about 30% down to get one of these loans.
The Holiday season always seems to be a slow time of year both buying and selling. What most people don't see here is that this is when you should be more active trying to buy a home because a lot of buyers hibernate till Jan 2. What this means to you is when you awake from the slumber of hibernation you will be right back in the rat race and be competing to buy that perfect home. If you’re looking right now don't stop because chances are you will find a good deal due to lower interest and higher inventory. If you have any questions please feel free to contact Ron at 661-717-4282 for help finding or selling your home.