Jenny Pruitt, CEO & Founder of Atlanta Fine Homes Sotheby’s International Realty, was featured in the October 26th issue of the Atlanta Business Chronicle with a Q and A about the current real estate market. Speaking to consolidation in the industry, the greatest challenge to homebuyers as well as greatest challenges to agents, Pruitt, a seasoned leader in the industry for the past three years, gave her insight to homebuyers and sellers alike.
Q: What do you see as the greatest challenge ahead for homebuyers?
A: Getting loan approval. Federal mortgage guidelines have become very tight in the past few years since the recession began and it is more difficult for a borrower to get qualified for a loan. The process is more time-intensive and requires more documentation than we have known in the past. Hopefully, the pendulum will swing back to a more “normal” loan process in the next few years. My best advice to a prospective homebuyer is to find an experienced, trusted loan officer who will get the loan approved. Also, homebuyers in the future will need to be prepared to come forward with their best offer as soon as their ideal home hits the market as we are already seeing some areas with more demand than supply.
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