Many veterans struggle to compete with other home buyers, but many real estate professionals can provide an advantage for veterans. Interest rates are incredibly low at the moment, making homeownership a worthwhile goal for many Americans. However, there are fewer homes available for sale on the market across the entire United States. Veterans who are looking to use their home loan benefits for veterans can potentially beat out other buyers even in these “seller’s markets.” The conditions require finding the perfect real estate agent for you.
Know That It Is Taking 30% More Time to Find the Perfect Home
Veterans First Mortgage revealed that a large problem for veterans in the current market is that it is taking longer than ever to find the perfect home. Most purchasers required 53 days to close on a home after receiving prequalification for a loan back in January of 2020. However, in August, statistics show that it is taking nearly 77 days to close on a house. This is a 30% increase! There are a number of different reasons for the extended time required to close on a house. However, one of the biggest reasons is that the market is incredibly tight. Many real estate agents are focused on putting in more offers than ever before. Many are even going through personal sellers.
Selling Your Story
Serving your country is a big part of your story as a veteran, and it can even increase your chances of landing your dream home. If you can convince the sellers that a veteran is the perfect person to purchase their home after serving your country and receiving the federal home loan benefits for veterans, you might be able to land the deal. You can even reveal that veterans have a culture of being responsible, dedicated, and engaged in the local communities.
Good agents will help you sell your story properly. They will not only discover who you are and what kind of home you need, but they will also recognize the sacrifice you have provided for your country. Then they can give this information to the seller or listing agent with a well-written letter or personal call. The extra insight can be an important way to win the sale.