Buying a Home in a Seller’s Market

You’ve made the decision to buy a new home. Or maybe this is your first time. You’re probably excited and can’t wait to go house hunting. If the market is a “Buyer’s Market,” one in which supply exceeds demand, you’ll have plenty of time to get your financing in order and look at as many homes as you like.

But what if demand is high and supply is low? Then you’re in a “Seller’s Market.” During a seller’s market, homes sell almost as soon as they become available, often causing buyers to have bidding wars with each other. They attempt to outbid the other buyers, offering the seller more than the seller asked for.

When you find a home you love, you’ll need to act fast. Sellers don’t want to wait for buyers who are still working on their financing. Before you start looking at homes, take care of two things first:

  1. Get preapproved for a mortgage – Show the seller you have your mortgage approved and you’re immediately ready to close on the offer. Offers without a mortgage contingency will jump to the head of the line.
  2. Get your down payment ready – Have paperwork showing you have proof of funds.

By getting pre-approved for your mortgage, you’ll know exactly how much house you can afford as well as get a head start on most of the other buyers. Also, since you will know the maximum that you can afford, you will be able to save time by searching only for those houses in your price range. Don’t even try offering less than the listed price during a seller’s market – that will only get you kicked out of the running.

You might also consider writing an offer letter to the seller, explaining a little about yourself and why you love their house. Keep it short and simple; strive to make a personal connection to the seller, but not bore them. Your realtor can send this letter to the seller and their realtor with the formal offer.

Midwest Community can help you begin this journey. Talk to one of our mortgage loan officers about getting pre-approved. They will calculate how much you can afford, find the best interest rate you qualify for, and help you get to the front of the line in a Seller’s Market.

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Investment Representative

The primary purpose of this position is to assist Midwest Community Federal Credit Union by delivering outstanding service to both internal and external members. A key element of excellent service is to identify the financial needs of each member and recommend an appropriate credit union solution. In addition, receives members in person and by telephone. Helps Member Investors reach financial goals utilizing our consultative sales process. In addition, responsible for ensuring that outstanding service is delivered to both internal and external members. A key component of this service is to provide proactive guidance on investment solutions via a needs-based consultative selling approach to both current and prospective Members who have placed an inbound call or referral to the Investment Representative.

For more details, please contact lfrysinger@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

Member Service Representative

Midwest Community Federal Credit Union is looking for a Member Service Representative to process transactions, accurately perform end of day balancing procedures, follow company policies and utilize the core data processing system and various software applications, including electronic banking services. We are seeking candidates who are punctual, honest, friendly, and have outstanding communication skills. Please see the job description for a full list of duties. Resumes may be submitted to Sondra Manon at smanon@midcomm.org.

Midwest Community Federal Credit Union is an Equal Opportunity Employer.

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