Published on February 10, 2023
Written by Ariel Jacobsen & Matt Bartlett
As interest rates continue to rise, some homeowners who have been pre-approved for loans at a certain amount may have decided to pull out of the market entirely (because the monthly payment is now significantly higher) or they may be reassessing their comfort level with the loan amount they originally were approved for.
With the spring home buying season around the corner, here are some tips for working with potential home buyers to set the stage for quick action when they find their perfect home.
Servion’s experience shows that two demographics are still actively interested in seizing a home-buying opportunity: young professionals who aren’t familiar with lower interest rates and empty nesters looking to right-sizer home as they prepare for their future aging in place. Taking time to work with your buyers to have approved loans in the pipeline will help them better take advantage of spring inventory.