The following Information from Adam Dellemonico of Movement Mortgage

by anastasiakaufman-chime-me

Buyers who stumble upon a house, go to the open house and then want to put an offer in when they are due within 48 hours, but they haven’t even been pre-approved yet, simply cannot compete in a busy/competitive environment. In the strong majority of cases, I am seeing buyers come to me at least a few weeks in advance and with an understanding that they need to get their approval ducks in a row before they can hit the street and start shopping. Not only does this create a smoother transaction for all, but it allows buyers to be educated on their numbers/approval and have the ability to learn about the offer process when working with a strong agent/lender duo. This makes all the difference and gives buyers the best possible opportunity to get their offer accepted. While the market has cooled down a little bit, it is still extremely competitive in a lot of cases. While inventory is picking up a bit compared to last year, it is still very low compared to other years in the past (see below). This just goes to show that 2024 will not only be busy, but uber competitive. #realestate #realestatemortgagerates @mortgagerates @movementmortgage @adamdellemonico