In regards to the virus affecting the Nation. What we see in regards to real estate is a slow down as Americans are adjusting to their family situations. Americans are finding them selves looking after their elderly family, children home due to school closing,their jobs,and just looking and being able to get supplies for everyday living. As far as real estate the feds have lowered their interest rates and this could effect the interest rates on mortgages. This could present the opportunity to refi an existing mortgage to getting a new mortgage. Only time will tell whether or not this will be an advantage to Americans. It will affect each American depending on their current interest rate on a current mortgage. Those looking to buy this could be a good opportunity..Watching the mortgage interest rate is of interest to all those considering the above. If I can be of help feel free to call. 231-357-3000..
UPDATE April 17 2020
Wow how are lives have changed. Social distancing has become the normal and will continue till Phase 3 of the Presidents opening of the country. Mortgage rates have come down. Time to buy because of the interest rates makes buying a home a good idea. The stock market has dealt a blow to some of us in regards to our retirement funds and investments. This has already affected some potential buyers as they have taken a hit big enough to reconsider buying a home at this time ... The economy and stock market recovery will play a roll in what happens next so we will have to wait and see. The process of buying a home is difficult at this time. Whitner has but a hold on home showings and open houses. The way around this has been virtual tours. Inspectors are allowed to go in and buyers can go with them if strict guidelines are followed. Mortage and title companies need more time to get paper work out. They have found unique ways to accomplish this. Depending on what the seller and buyers need and have access to it can be worked out. Time to close just will take longer. We will have to see what the Governor does next. If showings become available we will be back in business. Be prepared to follow state guidlines and social distancing. Safety matters.
I you want to talk feel free to call. 231-357-3000 to reach a broker.
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