The pilgrimage back to school begins next week and knowing how and what to do can often result in significant opportunities. Depending on your market specifics is vital and having a plan to use that information is essential. Many parents want to get their move completed prior to school beginning. Others will have to push through the difficult time trying to balance that move with their kids making the adjustment to a “school schedule” in a new home, or even having to start the new school even before the move to the new home is complete. As a mortgage professional, easing the stress of this situation for your clients, their children, and all of those around you can lead to an abundance of new opportunities and referral partners!
Things you should be aware of:
1. When are your primary/secondary/colleges starting classes. It will happen between now and the first full week of September.
2. Preapproval calls have increased importance. Bring up timelines and if they have children returning to school or if they have those going off to college.
3. If they don’t, they may have a huge buying advantage if they can close quickly for someone who does and needs the speed to sell so they can close on their new home.
4. Be sure your referral partners are in the loop with this opportunity. Make sure your agents are talking to their people and sharing the advantages that may be available in your market.
5. Nobody has a grip on the NAR settlement yet, so stay tuned!
6. Be sure you take into account those who are on, or are soon to go on that last vacation or holiday before the end of summer! It pays to pay attention!
Mortgage rates should continue to see a slow and steady improvement. While the FED didn’t lower rates at this week’s meeting, the markets are looking optimistically toward September for a rate cut. Pay attention to initial and continuing claims numbers today; and we also have the BLS jobs report for July on Friday which can certainly move the markets. As always, if you have questions or comments. It’s This email address is being protected from spambots. You need JavaScript enabled to view it.
