Thursday, April 23, 2020

Here are some incredible real estate stats! Don't just sit around and wait!

Here are some incredible real estate stats! Don't just sit around and wait! Read the full blog post here:

This is uncharted territory, much different than housing crash of 2007. There were warnings in 2003 with mortgage derivatives, unregulated loans, interest only and adjusted rate loans.

Hartford County - central CT single family home statistics
- Sold by week were normal, nothing out of the ordinary.
- Average price of homes sold per week, again, normal, nothing out of the ordinary BUT wait...
- Pending transactions (under deposit, continue to show, contingency). Having much longer closing times. Need to work with experienced real estate agents and loan officers.

For Buyers, now is the time:
- Standards to get loan increasing
- Work on credit repair and saving
- Get longer rate lock For Sellers, now is the time:
- Prepare to sign extension requests
- Work with an agent to sell who knows the 4 Ps of marketing: Product, Price, Place and Promotion.

Here's what you can do:
- stay positive
- don't put your head in the sand
- learn new talents, get creative with your daily activities
- IF IF IF you are healthy, get one of those essential worker jobs
- don't think you can just rely on the government.  The stimulus money will go quick.
- don't adopt the victim mentality

- plenty of bargains for buyers
- values are still good for sellers

My Creed by Dean Alfange "I do not choose to be a common man. It is my right to be uncommon. I seek to develop whatever talents God gave me—not security. I do not wish to be a kept citizen, humbled and dulled by having the state look after me. I want to take the calculated risk; to dream and to build, to fail and to succeed. I refuse to barter incentive for a dole. I prefer the challenges of life to the guaranteed existence; the thrill of fulfillment to the stale calm of utopia. I will not trade freedom for beneficence nor my dignity for a handout. I will never cower before any earthly master nor bend to any threat. It is my heritage to stand erect, proud and unafraid; to think and act myself, enjoy the benefit of my creations and to face the world boldly and say – 'This, with God's help, I have done.' All this is what it means to be an American."

For more real estate ideas, subscribe to my YouTube Channel! Where I hang out online... Rob

Rosa is a licensed real estate broker in CT Berkshire Hathaway HomeServices New England Properties 1160 Silas Deane Highway, Wethersfield, CT 06109

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