More Houses Are Hitting the Market–Here’s How to Make the Strongest Offer Possible

By Alvaro Moreira
6 min read

More Houses Are Hitting the Market–Here’s How to Make the Strongest Offer Possible

Key Takeaways

  • More homes are coming on the market, increasing opportunities for buyers.
  • It’s not enough to have home loan pre approval in today’s competitive market. The Moreira Team’s Upfront Approval Guarantee can make your offer stand out.
  • A pre-approved home loan with a full underwrite makes your offer appealing to sellers. You can waive the financing contingency and close in as little as 10 days.
  • Current mortgage rates in Georgia and 2024 loan limits make buying now a smart move.
  • The Upfront Approval Guarantee is good for 120 days, giving you time to find the right home.

If you’ve been biding your time, monitoring the housing market and interest rates, waiting for the right moment to buy a home, your time has come. Mortgage rates in Georgia are following the national trend: Not only are interest rates dropping; more houses are hitting the market too. Today’s buyers have more houses to choose from, and at better rates. These developments make it a fantastic time to make your move and start the process of buying a home. 

get your custom mortgage rate and closing cost options

The housing market moves fast, and savvy home buyers are prepared to act quickly when they find a home they love. The Moreira Team is passionate about helping our clients secure their dream homes–that’s why we created the Upfront Approval Guarantee. Unlike the typical home loan pre approval, which involves tentative numbers and estimates pending final approval, our Upfront Approval Guarantee gives you a fully underwritten approval before you make an offer on a house. This makes your offer as strong as a cash offer, allowing you to stand out in a competitive market. Whether you’re a first-time home buyer or an experienced owner, it’s a great time to leverage Moreira’s Upfront Approval Guarantee as you search for your dream home.

More Inventory Means More Opportunities for Homebuyers

Housing inventory plummeted during the pandemic, so for the past few years, the housing market has been a seller’s market: a good time to sell, not the best time to buy. But that’s finally changing. More homes are coming on the market: October 2024 finally saw the housing inventory climb back to pre-pandemic levels, with numbers still climbing. That’s great news for home buyers. More inventory means more opportunity for buyers—more homes to choose from, and more competitive pricing. Sellers need to price their houses well in order to stand out.

See How Easy it is to Get Your Custom Rate!
Watch Now ▶

If you’ve been waiting for a market shift, now’s your moment. It’s time to get your finances in order so you’re ready to make an offer when you find the right home. Common wisdom says to begin your journey by getting home loan pre approval, but when you work with the team at Moreira, we help you take your preparations a step further: Our Upfront Approval Guarantee will give you a huge head start. 

Why the Moreira Team’s Upfront Approval Guarantee Gives You an Edge

So what’s the difference between home loan pre approval and the Upfront Approval Guarantee? The differences are significant, and they could make the difference in whether or not you get the house you want. Most would-be buyers only have a home loan pre approval in hand when they make an offer. Pre-approval is based on a buyer’s credit score and some basic documentation. A pre-approved buyer gets a pre-approval letter, and once they make an offer on a house they hope to buy, they still have to go through the underwriting process and get officially approved for their loan. (In other words, their financing could still fall through.)

But when you take advantage of the Moreira Team’s Upfront Approval Guarantee, you leapfrog over the home loan pre approval process and enter your house hunt with a fully approved loan in hand. Because your loan is already approved and your underwriting set, you’ll be making an offer as strong as a cash offer. That’s appealing to sellers. (And by “appealing,” we mean “basically irresistible.”)

Here are some more advantages of making an offer with an Approval Guarantee:

  • Your approval is valid for 120 days, giving you plenty of time to find a home and close the sale. (In contrast, a home loan pre approval is only valid for 30-60 days.)
  • When you make an offer, your approval paperwork is already done and your loan is guaranteed, which means you won’t hit unexpected barriers.
  • You’re working with real numbers, not theoretical ones: You’ll have exact figures for what you can afford in closing costs, interest rates, and payments. 
  • If multiple offers are made for the same property, your offer will stand out to the seller for several reasons:
    • Your offer is as strong as a cash offer because you can waive the financing contingency. 
    • You can close in 10 days instead of 30.
  • A 10-day close means the Moreira Team can lock your interest rates in for 15 days instead of 30, which means you will get a better interest rate. 

Current Mortgage Rates and Loan Options to Consider

Mortgage rates have been high the past few years, thanks to fallout from the pandemic and inflation. But in 2024, would-be home buyers have been encouraged to see mortgage rates in Georgia following the national downward trend. Many predictors suggest rates will end the year hovering around or just above 6%, and may dip into the mid-5% range in 2025. Lower interest rates mean lower monthly payments, and lower monthly payments mean your money stretches farther. Pair better interest rates and higher 2024 loan limits with an increased housing inventory, and things are looking up for buyers. 

Buyers have multiple loan options, including:

  • FHA Loans: Backed by the Federal Housing Administration, this accessible loan opens up home ownership to buyers who need more relaxed requirements, like a lower credit score and smaller down payment.  
  • USDA Loans: Another government-backed loan, this 100% loan allows low buyers with low- to median-range income to purchase homes in areas the USDA designates as rural. 
  • VA Loans: If you’re a veteran or active service member who meets several additional qualifications, a VA loan offers less stringent requirements and attractive options, including no down payment or PMI, and lower income and credit score thresholds. 
  • Conventional loans: Conventional loans are backed by private lenders and typically require a down payment of 3-5%, plus a credit score of at least 620, among other requirements. Because they are privately backed, they often have higher loan limits than government-backed options. 

The experts on the Moreira Team can help you determine which loan best fits your needs, and get you qualified up-front so you can make the strongest offer possible.

See How Easy it is to Get Your Custom Rate!
Watch Now ▶

Preparing to Buy: Get Your Upfront Approval Guarantee

Get Approved

To begin the Upfront Approval Guarantee process, you’ll submit financial information online through our secure site. There is no cost to apply. Our underwriting team will verify your:

  • Bank records
  • Tax statements
  • Credit scores
  • Income
  • Assets
  • Debt-to-income ratio

Any potential roadblocks will be identified and resolved during the approval process, which means you won’t have any unpleasant surprises down the road. Once the underwriting process is completed, you’ll be fully approved for your guaranteed loan. 

See How Easy it is to Get Your Custom Rate!
Watch Now ▶

Shop with Confidence

Being fully approved means you’ll be able to shop with confidence, knowing exactly how much you can pay, from closing costs to interest rates to payments. You’ll be able to make aggressive, informed offers in competitive markets. Plus, your approval is good for 120 days, a generous timeframe that allows you plenty of time to find the perfect place. 

Make a Strong Offer

Your offer will stand out because it’s as strong as a cash offer. You can choose to waive the financial contingency and close in as little as 10 days–and both those considerations will make your offer extremely attractive to sellers. As the housing inventory grows and competition for homes remains fierce, making an appealing offer gives you the best chance to purchase your dream home. 

Ready to Begin Your Home-Buying Journey with Confidence?

Learn more about how the Moreira Team can help you secure your dream home with our Upfront Approval Guarantee. Start your journey to home ownership today.