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Last week we spoke about taking advantage of the opportunity to turn 1 deal into 2. Well today, we find out the market is providing is an exceptional opportunity to try this strategy out, and incorporate it into our process flow.

The National Association of Realtors recently released the findings of their second quarter Homeownership Opportunities and Market Experience Survey (HOME). The survey covers a variety of topics geared towards understanding the perspective of the typical homeowner in today's market.

One critical piece of information that came to light was that 75% of homeowners think now is a good time to sell, compared to 70% last quarter. When considering only 66% felt this way just over a year ago, this is a response clearly worth noting.

All that being said, the survey also revealed that many have simply not taken the steps to list their homes. This might strike us as odd given the recent rise in home values and the ongoing struggle with lack of inventory, but NARs Chief Economist Lawrence Yun points out that:

"There are just not enough homeowners deciding to sell because they're either content where they are, holding off until they build more equity, or hesitant seeing as it will be difficult to find an affordable home to buy."

So let us briefly recap the state of the real estate market:

1. Interest rates remain at or around all-time lows;
2. The demand for homes is greater than the number of homes for sale;
3. As a result, the price of homes have increased significantly;
4. The summer months represent the majority of home sales for the year with the hot season ending in August;
5. The typical homeowner is aware of the season and increase in value of their homes, which is why 75% of those surveyed by NAR believe now is a good time to sell;
6. Though they believe now is a good time to sell, the vast majority have not taken any steps to do so.

It is certainly an interesting environment to say the least, and only one certainty that stands above it all – with a pool of driven buyers going for a very limited supply of homes, reviewing offers contingent upon thorough and accurate pre-approvals is paramount!

New homes will continue to become available for sale as the hearts and minds of homeowners change looking to cash in on a market that continues to reach levels more appetizing for selling by the day.

Want to earn 2 deals out of 1? Call us! As our realtor partner, we will validate the pre-approvals being submitted on your listings when your client whose house you're selling gets pre-approved with us for their next home. What better way to turn 1 deal into 2 than to accept offers with only the most vetted pre-approvals, even on deals we don't fund. That's what a partnership is about – adding value to our partners by identifying the state of our industry, and deliver solutions for you to grow your business based on how things are right now.   

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If you're in the South Florida area and want to meet for lunch, send me a message on LinkedIn and let's get something on the calendar!

We also have our next Elevate conference upcoming in October in Boynton Beach, so if you're looking for a great seminar on how to grow your real estate business by leveraging key mortgage concepts, send me a message on Facebook @mattweaverspeaks to secure your seat today!

The views of this blog, "Your Morning Shot" podcast, and on this site in general are solely those of the authors, Matt Weaver (NMLS-175651) and Zack Lewis, and do not express the views or opinions of Finance of America Mortgage.