Altabanking episode 30 with Ben Pack
Altabanking Interview KSL Radio Transcript: Ben Pack
Segment title: Advice for First-Time Home Buyers
GRANT: Welcome to Altabanking. Weekly business talk geared toward elevating your financial future. Let’s talk with Ben Pack, President of the Mortgage Division at Altabank. Ben, Utah’s housing market continues to be unique when compared to other states. What trends have you seen in residential real estate this year?
BEN: Utah is growing. Utah is the number one economy in the United States and with that comes housing demand. First-time home buyers are looking, they’re seeing homes move quickly and they have to be able to jump fast in order to win those bids. If you’re looking to buy, I wouldn’t wait. Rates aren’t getting any lower. And housing prices just seem to be continuing to increase.
GRANT: How might these trends impact first-time home buyers?
BEN: We love first-time home buyers. Most homes under $350,000 are selling very very rapidly right now. So, first-time home buyers need to take a few steps ahead of time to position themselves to where they can win those bids. The day these listings are hitting the market, we’re seeing multiple offers and most homes are going under contract in less than 24 hours.
GRANT: Another question about first-time buyers, how do they position themselves for success? What advice do you have for those looking to purchase their first home?
BEN: My dad taught me when I was younger, he told me don’t get the cart before the horse. Let’s get you in, let’s get you pre-approved so that you’re searching for homes that are within your budget, within your monthly payment range and in the area that you want. We have fantastic technology that makes it very very simply for folks. They can go right online at Altabank.com and apply there. Or they can download our mobile app, which is the greatest technology out there.
GRANT: Ben, thank you very much. This has been Altabanking. Brought you by Altabank. Member FDIC. Equal housing lender.