July 25, 2018
House Hunting in a Seller's Market
If you’re in the market for a new home, it will come as no surprise that there’s not a lot out there to choose from. The supply of homes is at historically low levels. But why? And what can you do about it?
One major factor is that homeowners are staying in their homes longer. In real estate circles, it’s called tenure. In 2008, average tenure was six years. Now in 2018, it’s ten years. Less movement means fewer available homes, effectively freezing out move-up buyers, repeat buyers, and preventing renters from becoming homeowners. It’s like being stuck in a traffic jam.
What to do? You can make yourself a more attractive buyer. Sellers look for the easiest, quickest path to the sale of their homes. That means buyers need to be ready to get their financing moving immediately.
Get pre-qualified with a Guaranteed Low Mortgage Rate* from LMCU. It signals to sellers that your offer is serious, and that you’re ready to hit the ground running. And it’s a process that can be completed same day. Getting pre-qualified puts you in a much better negotiating position.
Contact a LMCU mortgage professional today to get your homeownership dreams out of the traffic jam and into the fast lane.
Call (844) 754-6280 or visit LMCU.org/Mortgage to get started today!
*Our Low Rate Guarantee: Lake Michigan Credit Union will match legitimate competitor offers or credit the borrower $300 off closing costs. Our low rate guarantee cannot be combined with any other offers. Lake Michigan Credit Union is insured by the NCUA.