As millennials enter the housing market, they are faced with many challenges. But have you heard that the biggest competitors millennials face are their parents?
According to The Washington Post, boomers are downsizing and want to live in urban city centers. They have wealth and are willing to pay top dollar for the perfect property — unlike their children who have student loan debt and limited down payment funds.
Knowing that there is fierce competition for condos, how can you help? If your clients plan to use a FHA or VA loan to purchase a condo, the condo complex must be FHA and/or VA approved.
How do you find out if the condo in Virginia Beach, Norfolk and Chesapeake, is approved?
FHA approved condo lookup
VA approved condo lookup