The 2018 housing market is slated to be a good market for sellers and owners, but difficult for buyers. Prices are predicted to increase by an average of 4.1%, which means more houses will eventually go on sale and mortgage rates will rise. But, since it’s more expensive, buyers may hesitate to make the purchase. Older homeowners could be content to stay in their lower-priced homes while construction puts more money into more luxury houses, choking the supply of starter homes for first-time homebuyers.
There is good news for you in all of this. Such a market is actually the perfect time to promote home equity loans to your members and customers. As the value of their home rises, so does the value of their loan. Homeowners will be looking to tap into their equity for anything from debt consolidation to home renovations to college tuition.
You should also still encourage people to purchase homes through mortgage promotions. With more houses going on sale, potential buyers will have more options, and you can help them afford the best house they can choose. By getting the word out that you’re there to help with the lowest rates and best services available, potential homebuyers may be more willing to pull the trigger.
Targeted mailings will be your best bet to connect with the specific buyers who are most likely to act in this housing market. You can use a targeted list to reach consumers based on their FICO score, the loan-to-value of their home, their mortgage rate or amount and other demographic and geographic indicators. image.works partners with Datamyx for prescreened mailings to bring you the most effective lists to reach your target audience. Don’t delay and risk losing homeowners and potential buyers to other lenders! We’re here to help.
Source:
forbes.com