It might not feel like it, but spring is in the air. People are coming out of hibernation, even in the cities that are still dealing with snow. “Moving Season” has officially begun. Even though there aren’t as many homes being listed for sale as most cities are accustomed to, mortgage applications increased by nearly 5% from the previous week.
Where are most people moving? Where will originators be able to help the most people buy a home? Some of the most affordable cities are expected to keep growing, and I would bet that originators in these areas will become busier and busier.
As Tony Robbins has written, most people don’t even fully consider the obvious way to save money: MOVE. Advertising cheaper housing, transportation, and food expenses which are especially present in these areas, should help more people realize how much sense a home move can make for them.
As you launch your spring marketing efforts and fully tap into this “moving season”, don’t forget to warn your borrowers about to potential delays that can result as they prepare to pack up and leave. Opening new credit cards, financing new appliances and housewares, changing jobs or industries and sources of income, or even switching cable, phone, and internet can cause some processing delays in certain instances. As I always say, it’s better to over-disclose then under-disclose!
Thanks as always,
Photo by Benjamin Zanatta on Unsplash
The opinions expressed in this post are the sole view of the writer and do not reflect the opinion of Princeton Mortgage Corporation.