Home Sellers: There Is a Hybrid Way To Welcome Home Our Veterans

Dated: July 29 2021

Views: 52

Home Sellers: There Is an Extra Way To Welcome Home Our Veterans | MyKCM

Some veterans are finding it difficult to obtain a home in today’s market. According to the National Association of Realtors (NAR):

“Conventional conforming mortgages (mortgages that conform to guidelines set by Fannie Mae and Freddie Mac), accounted for 74% of mortgages obtained by homebuyers in May 2021, an increase from about 65% during 2018 through 2019…The share of VA-guaranteed loans has also decreased to 7% in May 2021 from about 10% in past years.”

Recent data in the latest Origination Insight Report from Ellie Mae sheds light on the continuation of this trend. Below, we can see just how small of a share of total financing VA loans made up in June of 2021, according to that Ellie Mae report:Home Sellers: There Is an Extra Way To Welcome Home Our Veterans | MyKCMThe drop in VA loan usage can be attributed to the difficulties veterans continue to face when buying a home. The NAR article elaborates:

"It is extremely difficult for FHA/VA buyers to get accepted in a multiple offer situation. They are on the bottom of the hierarchy."

One contributing factor is that buyers with VA loans can’t waive certain contingencies. However, just because a certain contingency must be present for a particular buyer doesn’t mean that buyer’s offer shouldn’t be considered.

What Should Sellers Do To Help Create a Level Playing Field?

As a seller, it’s important to consider every offer in front of you regardless of loan type. If you’re selecting an offer because some contingencies are waived, keep in mind that it doesn’t always mean the offer is what’s best for you.

Buyers who can’t waive specific contingencies may adjust other terms in their offer to make it more appealing to sellers. This may depend on several factors, including their loan type and location, but a motivated buyer and their agent will do everything they can to present an offer that’s as appealing to you as possible.

Ultimately, you should make sure you take time to really understand the terms of their offer and see the big picture. Working with a driven buyer who’s motivated to purchase your house may provide a better opportunity for you to reach your overall best option and what’s most important to you.

Bottom Line

If you’re ready to sell, let’s connect. Using The Hybrid Model puts more money in the pockets of our sellers and buyers. Together, we can make sure you understand the terms of all offers so you can give each one fair consideration, including those buyers using a VA loan. Our veterans sacrifice so much for our country. They’ve earned our gratitude and should have the same opportunity to obtain the home of their dreams.

#hybridrealestate #hybridpcs #thehybridexperience

Latest Blog Posts

Is It Time To Move on to Your New Home?

If you’ve been in your home for longer than five years, you’re not alone. According to recent data from First American, homeowners are staying put much longer than historical

Read More

One of a Kind Housing Market

Some HighlightsWhether you’re buying or selling – today’s housing market has plenty of good news to go around.Buyers can take advantage of today's mortgage 

Read More

Is the Number of Homes for Sale Finally Growing in Fall 2021?

An important metric in today’s residential real estate market is the number of homes available for sale. The shortage of available housing inventory is the major reason for the-

Read More

5 Tips for Making Your Best Offer Fall 2021

In today’s sellers’ market, standing out as a buyer is critical. Multi-offer scenarios and bidding wars are the norm due to the low supply of houses for sale and high buyer;

Read More