Short Week Offers Plenty Of Good News
Monday. I mean, happy Tuesday! This is a short holiday week and there is plenty of good news out there. The US stock market is in the green today. That’s a change. The market opened up on hopeful news for a coronavirus vaccine. A cure could have you thinking about expanding your quarantine circle. But is the time right for that?
Be smart. Start with trusted friends or family. Ask questions, like, “Have you been exposed to others? Are you taking precautions and wearing a mask in public? What is your daily routine?” Definitely see neighbors relaxing their social distancing.
Location also plays into our social circle expansions. For someone in NYC, it is probably different than say Colorado which is no longer experiencing an increase of Covid-19 cases.
Read the Buzzfeed article with more tips and suggestions here.
Home Mortgage Interest Rates Are Incredibly Low
Also in the news, and pertinent to my real estate career: Home Mortgage rates are very very low. Just chatted with lender buddy Brian Crowder and he says for a conforming home mortgage, 3.25% with no points. That. Is. Low.
And of course, also positive, following the usual chilly weather bump we get most Memorial Days, it is now gorgeous outdoors. Endless blue skies and everything is so green from that rain over the weekend. Life seems very hopeful this morning.
Jumbo Mortgages Available
Lenders are once more quoting jumbo mortgage rates. Great news especially for our community in Boulder where the median and average home prices are over a million.
Home Loan Forbearance
No good intention goes unpunished. In this case, loan forbearance. During the onset of the current crisis, it was announced home owners could skip mortgage payments with restrictions. Namely, the full due amount had to be paid regardless – so if you skipped two payments, the third month you would owe the current payment and the two missing payments. Ouch.
Recently Fannie Mae offered new guidance regarding refinances and owners who were forced to use the forbearance and missed a payment. Home loans must be in good standing – with all payments caught up to date – to refinance or do a new purchase. Info courtesy of mortgage friend Michaela Phillips
April Existing Home Sales
Another lender, Jen Heieck with https://www.swbcmortgage.com shared today that nationally, 56% of resale home sales were on the market less than 30 days. That’s great economic news.
Tempering that awesome report is the news that sales posted the biggest monthly drop since Mid-Great Depression 2010. Coronavirus impacted the housing market to be sure.
Are You Thinking About Expanding Your Quarantine Circle With Your Realtor!
You should be. There is a confluence of positive factors in the market. The stock market is up. Hey, its not at the crazy highs we saw six months ago, but it is considerably up from six weeks ago.
And home mortgage interest rates are super low. Especially for conforming mortgage rates. In Boulder that’s $644,000 and under. In Denver your rate can be conforming if it is a loan amount of $561,200 or less.
Low rates and access to cash for down payments = Good Time To Buy. And for home buyers who need to sell to buy, also good news. There is re-surging high demand for homes just like yours.
OWU Zoom Jeopardy Party
Took some time over the weekend to celebrate the good things. For me, I’m passionate about helping my college. I organized an online zoom party.
Had a fun evening, giving back to local Rocky Mountain OWU Alumni by hosting a jeopardy party on zoom. Several guests had questions prepared and everyone took great fun in shouting out answers. Plus, we raised some money for Ohio Wesleyan.
What are you doing for fun these days?
Virtual Tours And Facebook Open Houses
A classic book, Who Moved The Cheese, could well describe the rapid and sudden upheaval in real estate. Virtual tours, 3D tours, aerial photography – this has gone from being some of my Above and Beyond marketing to the normal stuff. The Covid-19 crisis has changed the way consumers are viewing homes.
No thinking about expanding your quarantine circle required in a world where you can attend an open house through your Facebook account. Or view a home in detail from any angle with an array of three dimensional home tours proliferating online.
I’m just a little bummed because this is what I’ve been offering clients for the last few years to set myself above and beyond the competition.
Is Now A Good Time To Sell My Home?
That’s a question I hear a good deal. If there is one thing that the pandemic has made clear, our homes are more important that ever. With gyms closed, our houses have become home gyms.
With offices allowing employees to work from home, our condos now double as office. Heck, even as I jot this blog, I’m at a home office.
A good place to call home is more important than ever. And there are plenty of people, like you, thinking about expanding your quarantine circle by getting a different housing solution. It might be, more room to have a home office that’s not also the kitchen. Or some space outdoors for the kids to run around the yard. Or an option to have older family members live at home.
Or just to get out of Mom & Dad’s basement before the next stay safer order comes along. Regardless, now is definitely a very goo time to sell your home! Contact me to get the process started. I look forward to helping you sell your home/buy your next dream home.
About The Author Realtor Bob Gordon
I’m Bob Gordon. I’m a Blogger and Realtor. During the last month I’ve created a weekly zoom meet up for Dungeons and Dragons with several younger nephews. We play about two hours each weekend. The kids love it. I’m passionate about my Alma Mater, donating time and resources. I’ve been a member of The OWU Alumni Board since 2014, meeting twice annually in Delaware, Ohio for board meetings (this past Spring, we had a virtual meeting). When not blogging or selling homes, I enjoy gardening with my wife and getting out on Coal Creek Trail for bike rides.