Getting a mortgage, paying your mortgage, refinancing your mortgage: These are all major undertakings, but during a pandemic, all of it becomes more complicated. Sometimes a lot more complicated. But make no mistake, home buyers are still taking out and paying down mortgages during the current global health crisis. There have, in…
House hunters are reportedly placing a higher priority on properties with a pool during the COVID-19 pandemic. Searches for single-family homes on Compass’ website for homes with pools are up threefold, Robert Reffkin, CEO of Compass, told CNBC’s “Squawk Alley.” Further, listings showing off outdoor space appear to be more…
Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the economy will…
Many homeowners have a lot of money in their homes. During the first quarter of this year, 26.5% of residential properties or 14.5 million were considered equity rich, meaning the owner had at least 50% equity in their home, ATTOM Data Solutions reports Thursday. “Homeowners’ balance sheets generally remained strong…
Mortgage applications for home purchases, a gauge of future home buying, saw a 12% uptick last week, reversing a month of plummeting activity due to the COVID-19 pandemic, the Mortgage Bankers Association reported. Housing experts say it could mark a sign that homebuyers are returning. Refinancing demand fell last week,…
Nearly every industry has been impacted by the global COVID-19 pandemic and real estate is no exception. Because the cornerstone of buying or selling a home is face-to-face interaction, the way we do business has been altered. Open houses and showings have been cancelled, conducting inspections and funding loans have…
1. How Secure Is Your Employment Situation? Clark wants you to take a long look at the stability of your employment situation before going through with a real estate purchase. Are you in an industry that could see near-term ramifications from the social distancing practices being implemented as a means…
Only a couple of weeks ago we were wondering if there will be a recession because of the coronavirus. Didn’t take long to find out. Even though we don’t yet know what we’re in for—as Dr. Fauci says, “you don’t make the timeline, the virus makes the timeline” —we can start to…
What are the recommended best practices that must be followed in all circumstances? Showings should be done virtually, if at all possible. All activities should be completed electronically, if at all possible. Only a single agent and no more than two other individuals are to be in a dwelling at…
Click to access Coronavirus-A-Guide-for-REALTORS-04-07-20.pdf