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(BPT) - Finally! The economy is improving, interest rates are low and many consumers now find themselves in a great position financially to become a first-time homeowner. There's a small problem though for some locations around the country — the booming real estate market is resulting in rising home prices and increased competition for the most desirable properties.
The S&P/Case–Shiller national home-price index recently estimated that 2016 prices are within four percent of the peak in 2006. In some areas, low inventories around the country are making the situation even more challenging.
These conditions are introducing first-time buyers to common challenges and frustrations while searching for their dream home. "Don't get discouraged," says Travis Peace, executive director of mortgage at USAA Bank. "Buying a home requires...
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