Gershman Mortgage Creates Security in a Competitive Market | Center forward

Christina kling-garrett

By Alecia Humphreys | Photo by Christina Kling-Garrett

Since 1955, Gershman Mortgage has been at the forefront of facilitating family finances, and it is this distinguished history and commitment to clients that Gershman Mortgage believes gives clients a competitive advantage in a increased housing.

“The current housing market continues to operate in an ultra-competitive fashion, unlike anything we have seen in many years,” said Gershman Mortgage senior vice president of production Jeff Ogden. “Lack of inventory, historically low interest rates and the emergence of millennials in the home buying pool have resulted in a housing environment that strongly favors sellers. We continue to see many new real estate listings receiving multiple offers, often above the listing price almost instantly after they hit the market. “

Something positive for sellers; however, a hurdle of sorts for home buyers.

“Buyers lack the flexibility, bargaining power and luxury of time to find the home of their dreams,” Ogden explains. “Buyers often find themselves among multiple competing offers on a single home and struggle to find ways to give themselves a competitive advantage. “

Which makes pre-approval more important than ever.

“Regardless of the type of housing market environment, it’s imperative to get pre-approval from your lender as soon as you’ve decided you’d like to buy a new home,” says Ogden. “Getting pre-approved early on gives both buyer and seller the peace of mind that the buyer is qualified for the criteria of the home for sale. Most sellers will not receive offers or even show the home to borrowers who are not pre-approved.

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