If you lost your home due to foreclosure or short sale recently you may have already fulfilled the wait time needed to qualify for a mortgage. The wait time used to be 5-7 years but new FHA guidelines now allow some buyers to purchase a home as soon as 12 months after their foreclosure. 

79% of people who lost their home are looking to buy again

41% of people have higher incomes now than when they first purchased

63% of people report that they have lowered their household debt

46% of people report a desire to purchase a smaller home in a lower price range than before.

This is not only positive news for buyers, but sellers as well. The low housing inventory we are currently experiencing creates less competition for sellers and a more qualified buyer.

If you have questions about buying/selling or financing. Contact The Peggy Graves Team 731-225-6920 | Coldwell Banker Real Estate Now 731-668-1777.