Here are some incredible real estate stats! Don't just sit around and wait! Read the full blog post here: https://robrosarealestate.blogspot.com/
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."
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Rosa is a licensed real estate broker in CT Berkshire Hathaway HomeServices New England Properties 1160 Silas Deane Highway, Wethersfield, CT 06109