Many military leaders dread the Hundred Days of Summer because every year a disproportionate number of personnel injuries not related to duty occur between Memorial Day and Labor Day. In my flying squadrons, the annual “ground safety” message was very clear: Work hard, play hard, return safely.

Now that I am out of the active duty, that recurring summertime message takes on added dimension. I am still mindful of that deep-rooted safety message for my family, but the my life’s work as a mortgage broker gives the Hundred Days of Summer a more exciting and positive view of this period.

In the real estate world, it is no secret that the Memorial Day weekend begins “prime time” for homebuyers’ real estate purchases. With mortgage interest rates remaining as attractive as they have, this year should be no different.

Memorial Day also marks a notable changeover point in our current market. Until recently, buyers were in the minority and had the upper hand in negotiating deals with sellers. With more homes available than buyers to purchase them, those buyers were the valuable commodity.

However, if the number of buyer mortgage prequalification requests I am getting is any indication, sellers should soon have the upper hand again. With buyers now coming out of the proverbial woodwork for the seasonal summer buying frenzy—and presuming the number of homes available does not grow as quickly—we should see the real estate purchase market really heat up.

With this in mind, future homebuyers would be well served to act sooner instead of later by contacting a mortgage lender right away to head off any “surprises” that may be lurking on their credit reports. Then, a logical “next step” would be to complete a full-blown mortgage prequalification that involves a review of the borrowers’ income, assets, and debts.

Very intelligent borrowers will take these two steps to best be prepared to pounce on that perfect home when they see it. Our hundred days will be gone before you know it. Get prepared now, if you want to seize your buying opportunity.

Timothy Phillips is a mortgage banker and newspaper columnist.  Homebuyers should always consult a professional for guidance specific to their situation.

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