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Thinking About Buying a Home? Check Out These 4 Hot Cities

The iServe Blog


As the economy continues to recover, more people are becoming homeowners, either for the first time or once again. But before you start on that residential mortgage application or compare residential home loans, you need to know that you're buying in a good location. Some parts of the country have very high housing costs and a lot of competition, while others have a large home inventory and low competition, lowering home prices and making the residential lending process go much easier. Here's a quick look at the top four cities for residential lending options in the United States, as reported by Zillow and CNBC.com.

Thinking About Buying a Home? Check Out These 4 Hot Cities

Orlando, Florida

Orlando is the home to Disney World, and the magic doesn't stop there. When other Florida cities were still struggling to create jobs, Orlando saw job growth in excess of 4% last year. Home prices have been rebounding as the population grew last year by 2.6%, which means buying a home here may be a good investment. This means that it may be a great time to invest in Orlando real estate by filling out a residential mortgage application.

Memphis, Tennessee

Though Memphis was hit hard by the recession, consumer confidence in the city is growing by leaps and bounds, with many new residential home loans the result. This past January, the city saw increases in real estate sales by 3.4% over the same period in 2016. In addition, the city saw strong sales during the winter months, an uncommon occurrence in real estate, as many families wait until the summer months to move so as to prevent disruption of the school year schedule. Memphis could be a great place to come home to by filling out a residential mortgage application.

Oklahoma City, Oklahoma

If your idea of home is in the Midwest, residential mortgage services in Oklahoma City may be where you're headed. The city is currently undergoing a shift from a buyer's market to a seller's market, giving you an opportunity where you may see a good investment from your home. The city wasn't hit as hard during the recession, with home averages having appreciated about $10,000 over the national average compared to pre-recession prices. But with inventory beginning to shrink, you'll want to look at residential lending options now.

Jacksonville, Florida

If you prefer to rely on professional analysis, Jacksonville topped Forbes 10 Hottest Real Estate Markets list for 2017. Much like Orlando, Jacksonville has seen strong growth in jobs at 3.8% for 2016. There's also a strong influx of out-of-town buyers, which means filling out a residential mortgage application for a Jacksonville home may result in strong growth in the years to come. 

By looking for property in one of these cities, you're more likely to find what you need with good residential mortgage services available to make your dream come true. If you've found your next home and need to see what your options are for residential home loans, please feel free to contact a mortgage loan officer at iServe Residential Lending, LLC for more information. When it comes to residential mortgage services, our job is helping you find your way home.

 

Programs, terms and guidelines subject to change without notice. Not all applicants may qualify. All loans subject to underwriter and investor approval. Arizona Mortgage Banking License BK-0920658; Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, CRML License  413-0646; Colorado Supervised Lender #988552; Georgia Residential Mortgage Licensee License #19613; Licensed by the New Jersey Department of Banking and Insurance License # 512567; Licensed Mortgage Banker—New York State Department of Financial Services License # B501014; (www.nmlsconsumeraccess.org)