AVP regional mortgage sales manager Mike Murphy participated in a conversation hosted by Milwaukee Magazine about rising real-estate prices in the area. The magazine published an abridged transcription of the highlights, along with the audio, last week.

In the discussion, Mike noted how important it is for homebuyers to work with a local lender — like North Shore Bank — because of how quickly the market can change right now. “If you go with someone without local representation and there’s a curveball in the transaction, you may be calling a 1-800 number to someone who’s not in the state,” he said. “If you have a local lender, you can call them directly or walk into their office and they are going to be responsive because they’re invested in the community.”

He also mentioned that it’s essential for lenders to keep their information current once a buyer is preapproved, because a lot can change now that it’s taking so much longer to find a house. And he cited the rising popularity of cross-collateral loans, which allow buyers to finance new construction or buy an existing home without first selling their current home.

“Mike represented the bank in a great way,” VP consumer lending manager Chris Boland said. “I encourage everyone to check out the discussion, and to seek additional knowledge and ways to help our clients in this market.”