"Scott and his team did a great job of laying out potential funding scenarios that fit our budget. In the end, we now save $300 per month on our mortgage."
5.0
Review Verified
Top 5 Reasons Why You Should Purchase Today!
Scott Nicholson
Published 7 months ago
Hello,
Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice.
The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer.
In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude.
For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19.
The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months.
...........................................
Six Months Ago vs. Today
Six Months Ago:
Buyers competed against 10+ offers per property.
Buyers had to release all loan, inspection, and appraisal contingencies.
Buyers had to convert their loans into " cash offers " to compete.
Buyers had to overbid on their offers to compete.
Buyers had to settle on whatever home came on the market.
Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment.
Today:
Few Buyers, which means less competition.
Buyers can write offers with and maintain their contingencies.
Buyers with minimum down payments can purchase again.
Buyers can get fair value or even undervalued properties with their offers.
Buyers have more choices of homes than buying whatever comes to market.
With help from lenders like myself, we can structure much better terms, like buying down the rate.
Are you a buyer that has gone to the sideline to wait to purchase a new home or has been delayed from entering the real estate market? If so, I'm sure your reasons could be valid, but I wanted to ensure you have all the information on whether this is a wise choice.
The main issue, I assume, would be " affordability " from the significant rise in rates that has lowered your buying power or knocked you out of qualification. You might think this is a negative, but I wanted to highlight this exact issue and show you that it is an excellent thing for you as a potential home buyer.
In the video above, I've laid out the domino effect of the increase in the rates market, which allows you opportunities that have not been present in the last few years for home buyers. The lack of affordability and inventory is an exciting and challenging dynamic in this market, making it completely different. What I mean by that is that usually, these two forces don't line out together in this magnitude.
For example, when affordability issues last crept into the market, the housing supply spikes with the pullback of buyers, which we experienced recently in 2018/19.
The main issue that has caused a much-needed pause in our housing market has been the spike in rates, which caused our affordability issues. So we should focus on the opportunities that present you as a home buyer now vs. just six months.
...........................................
Six Months Ago vs. Today
Six Months Ago:
Buyers competed against 10+ offers per property.
Buyers had to release all loan, inspection, and appraisal contingencies.
Buyers had to convert their loans into " cash offers " to compete.
Buyers had to overbid on their offers to compete.
Buyers had to settle on whatever home came on the market.
Buyers are being delayed in converting their " cash overs " into loans in this high-rate environment.
Today:
Few Buyers, which means less competition.
Buyers can write offers with and maintain their contingencies.
Buyers with minimum down payments can purchase again.
Buyers can get fair value or even undervalued properties with their offers.
Buyers have more choices of homes than buying whatever comes to market.
With help from lenders like myself, we can structure much better terms, like buying down the rate.
Recent Reviews
"Scott is the consummate mortgage professional. His creativity to close and duty as a fiduciary are second to none. I'm so grateful to have him in my corner now and in the future, especially with how competitive talk estate is in California! Thank you, Scott, and team!"
5.0
Review Verified
"Scott and his team at SWMC were awesome! We closed in two months on my mortgage and they were equipped to navigate a complex project in a challenging market. 5 out of 5 stars. -A"
5.0
Review Verified
"Scott was hands on with our clients, very knowledgable, attentive, and assisted in getting many of our offers accepted. I would send anyone and everyone to Scott."
5.0
Review Verified
"Great experience, all the way"
5.0
Review Verified
"We had a great experience working with Scott and team. They helped us navigate through the required documents and were able to get us to the finish line on our refinance. Many thanks!"
5.0
Review Verified
"Very creative and super responsive."
5.0
Review Verified
"Scott is easy do deal with and explains everything in detail."
5.0
Review Verified
"Scott was very helpful and informative through the entire process. His communication and insight were second to none!"
5.0
Review Verified
"Our transaction with Scott went very smoothly! He was always available to answer any questions we had and he called us anytime he sent something to be sure we understood everything. As first time homebuyers, the process can be intimidating but with Scott's help, we felt comfortable and confident that we had a great understanding of the process from beginning to end. Thanks, Scott!!"
5.0
Review Verified
"Scott did a great job walking us through the process and working with our timeline."
5.0
Review Verified
"Scott pushed through our loan as we were in a time crunch. He really pulled through for us. Thanks Scott!"
5.0
Review Verified
"Scott was knowledgeable and gave us important scenarios to choose from. Needless to say, he had our best financial interests at heart. AMAZING experience."
5.0
Review Verified
"Scott is extremely knowledgeable of his loan products and goes the extra mile to explain the numbers and processes behind his financing."
5.0
Review Verified
"Scott went above and beyond to help my client secure a mortgage. There was no shortage of challenges along the way but Scott was informative and knowledgeable the whole way and got it done for us!"
4.8
Review Verified
"Scott was helpful and full of advice! When starting the loan process, he took the time to listen to our needs and find the loan that would get us as close to our end goal as possible. After hearing from other companies that what we wanted wasn't possible. His flexibility is also appriciated as we changed our numbers several times!"
4.5
Review Verified
"Scott is absolutely AMAZING! He is PROFESSIONAL, he has stellar COMMUNICATION, and he CARES about your transaction. He went above and beyond for us. I would recommend Scott 100 percent. Thank you!!"
5.0
Review Verified
"Scott is great because he is always looking for the best rate for us in a timely manner."
5.0
"Scott was a pleasure to work with. He is knowledgeable and supportive. Scott was always available so answer questions and made the experience very easy. Thanks Scott!"
5.0
Review Verified
"I have worked with Scott for over 5 years. 1 remodel and 2 refi’s. All three experiences were smooth and easy transactions. Scott always kept me up to date with the status on our loan and was able to explain things to me in a way I could understand."
5.0
"We couldn’t have completed our remodel successfully without Scott’s support and guidance."
4.8
"It was great working with Scott. Really helpful. Highly recommend to anyone."
5.0
"Great overall experience, highly recommend working with Scott."
5.0
"Scott is always there if you need help or a understanding with anything. We appreciate him very much."
5.0