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  Home Sellers: There Is an Extra Way To Welcome Home Our Veterans
  July 29, 2021 by Jeffrey B Thompson
  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: The 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. 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.
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  Filed Under: For Sellers, Move-Up Buyers, Real Estate Tagged With: Real Estate, Simplifying The Market
  About Jeffrey B Thompson
  I bring unique insight and knowledge of the area to the table. I am familiar with all communities in The Milwaukee North Shore, Waukesha, Ozaukee, and Washington Counties as a resident and have operated businesses located in wowMKE.
  When I represent your interest as a buyer or seller in a Real Estate transaction, you will receive the skill, care and experience of a full time professional that only 25 years as an independent local business owner can bring you. My commitment is that you will experience a higher level of service, support, communication, negotiation and expertise during your transaction. These are all commitments that you deserve.
  My clients draw from my experience, and benefit from my fluent use of technology. You will benefit from my experience in transactions addressing city zoning and local planning commissions in Mequon, Germantown and Whitefish Bay; and my first hand buying and selling experience in the area of home, condo, home owner associations, new construction, and commercial properties.