Are You Hoping To Sell Your Home Soon?
The housing market continues to defy all expectations. Buyers are lining up. Prices are strong.
Will it last? Inventory is starting to grow. Will the demand keep up?
In this live and interactive Zoom Town Hall Meeting we are focused on what home seller’s need to know right now. Are you thinking about Right Sizing? Down Sizing? Getting a better work from home space?
Industry Veterans and Experts will share what is working, what is NOT working and the most successful adjustments home sellers are making in a COVID world.
Find out what is ACTUALLY happening in our local real estate market. What can buyers expect? What are home sellers experiencing? What is going on with interest rates – have they gotten even LOWER?
Special Guest Robyn Navarro of Upstage Design (and a vital part of my DIGGS Optics Team) shares her thoughts on making your home STAND OUT when physical showings are so difficult.
Shea Case, Mortgage Update
- Interest are at all time lows. We MEAN it this time!
- Loans are getting closed for purchase and refi.
- Sell employed is a bit trickier. Must show they are working and earning right now.
- A vaccine will really change the game
- He’s helped buyers understand if it is safe to make an offer without a loan contingency
- If you are self employed run your financials past your lender BEFORE you need to buy. Tax obligations can significantly change your qualifications
- His advice: don’t lose a great house over 25k (as an example). You’ll regret it if you don’t and you’ll be grateful if you get it.
- Make offers where you’ll hove no regrets either way.
Shea Case is a senior loan officer at House America Financial. You can reach him at (818) 469-8680
Oscar Wei, Economic Update
- Against all the economic bad news, why is real estate going bonkers?
- We are definitely in a recession
- 3rd and 4th quarter GDP will bounce back, but not all the way.
- Our real estate activity has surpassed last year’s numbers
- Low interest rates are a huge factor in the increase in real estate activity.
- We will not see a crash like we saw in 2010
- Despite a large number of people who are not paying their mortgage he does not see a large number going all the way to foreclosure
- While we might see foreclosures may rise to 5% – 8% of all sales, in 2010 it was more like 40%
- If it goes to 8% there might be a dampening effect on overall prices, but not very much. Maybe 3% -5 %
- Most projections predict a range of up to 3% increase, best case, to a 2% decrease, worst case for the rest of the year.
- If you are looking to buy, even worst case, prices should fully recover by end of 2021.
- Forecast a strong demand for the next 3 month
- Sales and price may slow down in fall/winter
- inventory will continue to be very tight
Oscar Wei is a senior economist with the California Association of Realtors.
Kendyl Young, Local Real Estate Update
- Coronavirus MLS Activity Tracker (link to live spread sheet)
- We are at, or ahead, of last year for new listings and new sales
- Activity on almost all sectors is trending up week over week
- For people who need to now or in the next year should sell now
- For those who need/want to buy, fall/winter might be a good idea
BONUS READ: Find a current market report for just your city. See DIGGS City Guides
Kendyl Young is the owner and broker at DIGGS. You can reach her at (818) 482-1885
Robyn Navarro, Staging Homes For Sale
- Stay safe – stage without having an entire staging team in your home
- A Zoom call with Robyn can produce a “punch list” of specific things a homeowner can do to declutter and reorganize existing stuff
- A list of items the homeowner can either acquire on their own or rent from Upstage.
- Virtual Staging – there is a real disconnect when someone finally comes to visit. It will be a disappointment that might kill a sale.
- Cost – how expensive is this? You can stage a room with basic furniture or fully appoint the room with a lot of texture and “story”.
- A stager is not a furniture rental. It is a full design and installation service.
- Robyn doesn’t fall into the “color of the year”. Grey, however, is over used right now.
- Edit is 75% of any staging job.
- She loves to use an unusual accent or “pop” that is memorable. This anchors a home in the buyer’s memory to stand out when reviewing their choices.
Bonus Read: Is Staging Worth It?
Robyn Navarro is the owner and lead designer at Upstage Design. You can reach her at (818) 790-0300
Still Have Questions About Home Selling?
You might still have a lot of questions about selling your home and you are not ready to talk to an agent. I get it – that is a scary step to take!
Take a look at my Ultimate Home Sellers Guide. A collection of my best articles with snack-able and practical advice and wisdom you need, right now.