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Super Strange! Seller FEAR is Causing a Seller's Market.



Buyer Demand?  You Mean People are Buying Homes Now?


Looking at the number of homes being put “under contract”, buyer demand has been consistently rising over the past 30 days.  Each column below is a segment of 10 days, with this chart data showing the past 30 days of buyer activity.  For the time being, the demand for good homes WILL INCREASE in value due to scarcity.  It’s a GREAT time to be a seller, that is for sure.






 Ok, But I Heard It’s Tougher for Buyers to Get a Home Loan Now…

This is true.  I interviewed Jackson Cussons, a lender for more than 35 years, about recent changes to the home loan industry.  It became very clear in our conversation that the home loan world has been affected by the pandemic just as much as the real estate industry.

Me: What have been the changes to lending qualification criteria since COVID started?” 

Jackson:  Credit scores with FHA/VA system are favoring at least a 660 middle credit score.  Debt to Income ratios under 50%.  As long as you are working for a stable company in an essential industry, you will be able to take advantage of the low rates.

Me:  What can buyers expect in terms of interest rates over the next 30 days?

Jackson:  Rates should stay low for the rest of this year, don’t expect rates to lower... We are in the lower 3% currently for a 30 year fixed with good credit.

Me: For sellers worried about buyer loan approvals, what should they be on the look-out for in accepting a buyer’s offer that can actually close?

Jackson: Check to see what kind of job they have, what type of industry, and quiz the buyer's agent if the buyer feels they have job security.  Also, check to make sure their pre-qualification letter is from a real lender (who underwrites and closes in their own name).  Check with the buyer's lender to understand if they sell the loans directly to Fannie, Freddie, Ginnie.

Me: Is that ALL?  (I was thinking that was plenty, but no... he recommended MORE due diligence.)

Jackson: ALSO, check with the loan officer, find out his strength, and the mortgage company strength. (if they have had any issues closing loans in the last week).  The seller's listing agent might be wise to call a couple title companies, see if there have been any issues with that lender.  Just because they have been strong in the past doesn’t mean strong now.  

(A BIG thank you to Jackson Cussons for his time and expertise in providing this info.  If you have additional questions or want to gain a solid advantage in your upcoming home purchase, learn more about him here.)

No Showings?  The Way Selling SHOULD Be.

Selling a home IS chaotic.  First the make-ready, then being on-call to tidy up and prepare for random people to walk through your home.  Who wants all that stress?  

The obvious solution is to remove showings and carefully craft your best first impression with virtual media.  Buyers are willing to get to know your home through multiple videos, pictures, and an interior floor plan.  New home builders do it, so why can't regular folk enjoy the same benefit?  

The result is a more consistent product for a buyer to take off the shelf and put in their basket to buy.  Especially if they don't have to leave their couch to do it!  If you are interested in learning more, hop over to our Selling with No Showings page.


Thanks for stopping by to read up on what's happening right now!

Your Realtor for Life,

Timothy Henley

Click to Schedule a Conversation
or email me at timothy@timothyhenley.com.

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