Should we buy or sell during this pandemic? The answer is YES, the housing market is thriving and doing excellent.
Despite the shortage of homes on the market, we have approved buyers and are paying above asking price in most cases.
BUYING: A good gauge of the number of homebuyers in the market is the number of mortgage applications submitted.
The volume is up 9% over this time last year, according to the Mortgage Bankers Association. This, by the way, is the sixth consecutive week of an increase in mortgage applications. Much of this is, no doubt, spurred by the historically ow mortgage rates.
SELLING: Most peopleare surprised to learn that home values haven’t tanked during the pandemic. In fact, values were up 4.4% early in the pandemic (March), and we continue to see increases. As restrictions ease, home showings are vastly easier. There are still precautions in place, but we Realtors have no propblem in holding open houses. If you are planning on buying or selling a home, this is truly the ideal time. Interest rates are at historic lows, allowing you to buy more home for
the money.
For sellers, the timing is perfect. There is still an inventory shortage, so those who put their homes (in good condition) on the market end up selling quickly and for top dollars.
I work with direct lenders that every buyer have the chance to get qualified for home loans with easy options and many new programs.
Reach out to me (818) 414-6744 if you are a home seller and looking to get top $$ on your home and for quick sale.