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Sellers | Blog

Monday, October 19, 2020   /   by Garrett Mann

Real Estate Continues to Show Unprecedented Strength This Year

The 2020 housing market has surpassed all expectations and continues to drive the nation’s economic recovery. The question is, will this positive trend continue throughout the rest of the year, especially given the uncertainty around the current health crisis, the upcoming election, and more?
Here’s a look at what several industry-leading experts have to say.
Lawrence Yun, Chief Economist, National Association of Realtors

“Home sales continue to amaze, and there are plenty of buyers in the pipeline ready to enter the market…Further gains in sales are likely for the remainder of the year, with mortgage rates hovering around 3% and with continued job recovery."

Frank Martell, President and CEO, CoreLogic

"Homeowners’ balance sheets continue to be bolstered by home price appreciation, which in turn mitigated foreclosure pressures…Although the exact contours of the economic recovery remain uncertain,& ...

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  real estate, housing market, buyers, homeownership, housing demand, sellers, 2020, buying, homebuyer, selling, housing market updates, demand, housing supply, economy, home, wealth, for buyers, for sellers

Thursday, October 15, 2020   /   by Garrett Mann

Do You Need to Know More about Forbearance and Mortgage Relief Options?

Earlier this year when the nation pressed pause on the economy and unemployment rates jumped up significantly, many homeowners were immediately concerned about being able to pay their mortgages, and understandably so. To assist in this challenging time, two protection plans were put into place to help support those in need.
First, there was a pause placed on initiating foreclosures for government-backed loans. This plan started on March 18, 2020, and it extends at least through December 31, 2020. Second, homeowners were able to obtain forbearance for up to 180 days, followed by a potential extension for up to another 180 days. This way, there is a relief period in which homeowners have the opportunity to halt payments on their mortgages for up to one year.
Not Everyone Understands Their Options
The challenge, according to Matt Hulstein, Staff Attorney at non-profit Chicago Volunteer Legal Services, is, “A lot of homeowners are ...

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  real estate, housing market, homeownership, housing demand, 2020, homebuyer, housing market updates, economy, investment, for buyers, prices, for sellers, equity, home affordability, historic, homebuyer preferences, health crisis, unemployment

Wednesday, October 14, 2020   /   by Garrett Mann

The #1 Reason Not to Wait to List Your House for Sale

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.
Mark Fleming, Chief Economist for First American, just reported:

“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”

Buyer demand is still strong heading into the fall. ShowingTime, which tracks the average number of buyer showings on residential properties, just announced that buyer showings are up 61.9% compared to the same time last year. They went on to say:

“Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”

There Is One Big Challenge
Purchaser demand is so high, t ...

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  real estate, housing market, buyers, homeownership, housing demand, sellers, 2020, buying, selling, homebuyer, demand, housing market updates, housing supply, economy, prices, for sellers, equity, home price, supply, historic, low inventory

Tuesday, October 13, 2020   /   by Garrett Mann

Do You Have Enough Money Saved for a Down Payment?

One of the biggest misconceptions for first-time homebuyers is how much you’ll need to save for a down payment. Contrary to popular belief, you don’t always have to put 20% down to buy a house. Here’s how it breaks down.
A recent survey by Point2Homes mentions that 74% of millennials (ages 25-40) say they’re interested in purchasing a home over the next 12 months. The study notes, “88% say they have significantly less savings than the average national down payment amount, which is $62,600.”
Thankfully, $62,600 is not the amount every buyer needs for a down payment in the United States. There are many different options available, especially for first-time homebuyers (millennial or not). That amount can also be significantly less, depending on the purchase price of the house.
According to the National Association of Realtors (NAR), “The median existing-home price for all housing types in August was ...

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  real estate, housing market, buyers, homeownership, housing demand, sellers, 2020, buying, homebuyer, demand, housing market updates, home, wealth, investment, home price, homebuyer preferences, comparable sales, pre approval, buying vs renting, down payment

Monday, October 12, 2020   /   by Garrett Mann

6 Reasons You’ll Win by Selling with a Real Estate Agent This Fall

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale by Owner (FSBO), it’s critical to consider the following:
1. Your Safety Is a Priority
Your family’s safety should always come first, and that’s more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings but your family’s health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours for buyers, real estate professionals ...

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  real estate, housing market, buyers, homeownership, housing demand, sellers, 2020, buying, selling, homebuyer, housing supply, demand, housing market updates, home, wealth, economy, for buyers, prices, interest rates, for sellers, home price, supply, home affordability, homebuyer preferences, pre approval, trusted professional