Standing Out in a Sellers Market

In many markets across the country, including Cape Cod, the number of buyers searching for their dream homes outnumbers the supply of properties for sale. This has led to a competitive marketplace where buyers often need to stand out. According to industry resource KCM, one way to show that you are serious about buying your dream home is to be pre-qualified or pre-approved for a mortgage before starting your search.


In addition, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the My Home section of their website:

It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”


One of the many advantages of working with a local real estate professionals like Mari Sennott and Associates is that we have established relationships with lenders, who will be able to help you through this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding your down payment and credit, debt, work, and residential histories. 


Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:


  1. Capacity: Your current and future ability to make your payments.
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash.
  3. Collateral: The home, or type of home, that you would like to purchase.
  4. Credit: Your history of paying bills and other debts on time.


Getting pre-approved is one of many steps that will show sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.


Many potential home buyers overestimate the down payment and credit scores necessary to qualify for a mortgage. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.


We would be happy to meet with you to discuss your options and what lenders are in the best position to help you. Call us at 508-360-5664 or contact us through the feedback section.



According to our partners at RSM (Residential Mortgage Services) the government shutdown has yet to impact mortgage rates. For more on the economy and the housing industry, check out Markets in a Minute.




Who your work with as your real estate professional will really matter in 2019 as the market returns to normal.  It’s important that agents stay up-to-date with the latest trends and developments. That’s why we invest time and resources in being part of the Tom Ferry organization, the leading coaching and training group in the country. In early February Mari will be attending the“Elite Retreat” in San Diego that brings together top Ferry coaching and training clients from across the country for an intensive two day event.  We expect to learn a lot to share with you and, more importantly, put to work for you as our clients.


Enjoy your week.

Mari and Hank







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