Military families struggle to compete in hot real-estate market

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Military families are struggling to compete in a hot real-estate market as sellers opt for cash or conventional offers over government-backed loans for veterans

in parts of the Research Triangle and Charlotte. That's led to higher housing prices and bidding wars.

The military has"been spoiled their entire time to not have to pay closing costs and not have to have cash," he said."You can't overcome 15 years of not having cash in six to nine to 12 months just because the market changed."On top of that, sellers seeking the best deal oftentimes won't even consider military buyers because of misperceptions about the VA loan process, said Chris Birk, vice president of mortgage insight at Veterans United, a VA lender.

Mayoras said the current real-estate market isn't necessarily discriminatory against military,"but I do think it's one step short of it."

 

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When will list our house soon for HOA Ken, he can move in the subdivision & watch for 4 wheelers, loud noises (people living). But, we will be expecting offers over asking price and agreement to pay the difference if it doesn't appraise. We will move into a fixer upper below mkt

This is an opportunity for developers and the government to provide options for these families. The Military has the manpower to put behind those government-backed loans and the same government has lands that can be made available. Who will step up with the plan?

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