ATTENTION TUCSON REALTORS®!
ATTENTION TUCSON REALTORS®!
Who Else Wants To Sell Their Listing or Help Someone Buy A New Home?
Let Tyler Ford & Todd Abelson Show You How!!
Clearly, the markets are twisted up in several areas: credit, declining home values, and worried lenders. Consequently we endeavored to categorize prospects in our market to better understand how we can work with them. Their areas of “pain”, as we see it, are keeping them from moving forward. These areas are:
1. “FUD” (Fear, Uncertainty, Doubt) - Persons frozen concerning their status or future. They are unable or unwilling to do anything now.
2. Opportunistic - Persons confident about themselves and their situation, but will only proceed when there are clear indisputable signs we are at rock bottom. They are typically market timers and will not proceed until “the market bottoms.”
3. Unable to secure credit - Persons who may have been “sub-prime” borrowers in the past or are now on the sidelines as a result of tightened credit guidelines.
4. Must Sell Home - Qualified homeowners that must sell before buying another home. They are stuck!
5. Cash Poor - Qualified Tucson homebuyers that are cash poor. The days 100% financing are long gone although there are ways to get qualified homebuyers into a home with little money down. That is were we can help! Let Tyler Ford and Todd Abelson show you how.
While we can certainly work with people in categories 1-3 and provide them with knowledge and assistance, they are long-term prospects that will not generate business now.
However, focusing on and working with people in categories 4 and 5 offers us the highest and best opportunity for business today.
Looking at recent MLS data, we continue to focus on real-world statistics. Namely, that approximately 70% of all homes currently listed for sale are priced at/under $316,250 and approximately 80% are listed at/under $417,000. This means that something on the order of 2/3s to 3/4s of all homes currently listed for sale could be financed with FHA ($316,250 maximum) or VA loan ($417,000 maximum) loans. Talk about maximum impact!
Realtors have traditionally shied away from FHA and VA financing. In our opinion, this is due to FHA and VA loans being perceived as a useful tool for unsophisticated buyers, or they were concerned about property condition and/or the loan process. However, FHA and VA financing has become mainstream and is bound to become the premier programs going forward. We believe this will occur due to further deterioration in the conventional credit markets AND requirements for increased down payments by both Fannie & Freddie. In a nutshell, the double whammy of high-quality credit and high-down payment, both areas of pain in our list.
Through strategic use of FHA and VA financing in conjunction with down payment assistance programs (DPA), judicious home marketing programs including Seller concessions, utilization of temporary rate buy-downs, and other tactical considerations, you can help people in categories 4 & 5 sell and buy homes TODAY!
We believe this so much to be true that we are offering FREE one-hour sessions to help you better understand how you can be successful in today’s market.
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