For nearly two months, most of us have been following strict stay-at-home orders from our state and local governments. It is a whole new way of life that has put our daily lives on pause. On the other hand, many of us have also found a sense of comfort by slowing down and spending time at home, highlighting the feeling of security that comes with having a much-needed safe place for our families to live. (more…) … [Read more...]
How to Test-Drive a Neighborhood While Sheltering in Place [INFOGRAPHIC]
Some Highlights Staying at home doesn’t mean your search for a new place needs to come to a standstill. Check out these tips on how to explore other neighborhoods virtually in the homebuying process. You may find a spot that better suits your needs without ever leaving your living room! Let’s connect today so you have help with all of the additional steps along the way, and you’re ready to make your next move. … [Read more...]
Why the Housing Market Is a Powerful Economic Driver
With businesses starting to slowly open back up again in some parts of the country, it’s important to understand how housing can have a major impact on the recovery of the U.S. economy. As we’ve mentioned before, buying a home is a driving financial force in this process. Today, many analysts believe one of the first things we’ll be able to safely bring back is the home building sector, creating more jobs and impacting local neighborhoods in a big way. According to Robert Dietz in The Eye on … [Read more...]
Buying a Home Right Now: Easy? No. Smart? Yes.
Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed: “The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. Early April data show signs of an … [Read more...]
Rise to the Top of the Pool by Selling Your House Today
With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers. Lawrence Yun, Chief Economist at NAR, noted: “The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, … [Read more...]
What Impact Might COVID-19 Have on Home Values?
A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that item. In residential real estate, the measurement used to decipher that ratio is called months supply of inventory. A normal market would have … [Read more...]
Today’s Expert Insight on the Housing Market [INFOGRAPHIC]
Some Highlights According to Lawrence Yun, Chief Economist at NAR, home prices are forecasted to rise. Results from the Existing Home Sales Report note that home sales declined in March due to the coronavirus, but prices are still strong. Let’s connect so you can better understand your home’s value today. … [Read more...]
Uncertainty Abounds in the Search for Economic Recovery Timetable
Earlier this week, we discussed how most projections from financial institutions are calling for a quick V-shaped recovery from this economic downturn, and there’s research on previous post-pandemic recoveries to support that expectation. In addition, we noted how there are some in the business community who believe we may instead be headed for a U-shaped recovery, where the return to previous levels of economic success won’t occur until the middle of next year. Yesterday, Reuters released a poll of … [Read more...]
Keys to Selling Your House Virtually
In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe … [Read more...]
Will This Economic Crisis Have a V, U, or L-Shaped Recovery?
Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover? Let’s look at the possibilities. Here are the three types of recoveries that follow most economic slowdowns (the definitions are from the financial glossary at Market Business News): V-shaped recovery: an economic period in which the economy … [Read more...]
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