Helping first-time home buyers get from 'I can't' to 'I can'

The economy is improving, interest rates are low and many consumers now find themselves in a great position financially to become a first-time homeowner. With that said - the state of the real estate market is resulting in rising home prices and increased competition for the most desirable properties.

The S&P/Case-Shiller national home-price index recently estimated that 2016 prices are within four percent of the peak in 2006. In some areas, low inventories around the country are making the situation even more challenging.

These conditions are introducing first-time buyers to common challenges and frustrations while searching for their dream home. Below are 3 main questions many prospective Keller homeowners are asking as first time home buyers.

No. 1: I can't figure out the home-buying process.
It's essential to do research and to be equipped with basic information, but also be willing to ask for help when needed. For example, an experienced real estate agent can keep a buyer apprised of everything from area sales trends to the latest changes in state and federal laws that could impact a mortgage application.

No. 2: I can't find the perfect home for my family.
Finding the perfect Keller home may not be realistic, but shoppers can find the right home. Personal situations will dictate buyers' ability to wait for a home in a particular neighborhood or design style to come on the market, but not everything has to be left to chance. It is important to set attainable goals and not fixate on negatives.

No. 3: I can't afford a 20 percent down payment.
Putting 20 percent down on a home has become more of a guideline than a rule. Today, not being able to put 20 percent down does not mean buying a home is out of reach. Depending on a buyer's financial situation, there may be a responsible way to get into your new home without putting 20 percent down.

Government-sponsored loan programs from the Federal Housing Authority, Fannie Mae and Freddie Mac provide loan options that require down payments as low as three percent. Veterans Affairs (VA) loans don't require any down payment.

Whether it's selling your home or finding a new one, we have designed this site so that you can quickly and easily locate the information you are looking for. The Grove Team's client-centered approach results in the best possible outcome for you. Please contact us now to begin the process of achieving your dreams in home ownership