Tagged : coronavirus

Found 4 blog entries tagged as "coronavirus".

The first week of January I went to Orlando for a marketing conference. On the flight home the passenger next to me was saying he expected 2020 to be a great year. He said all the economic trends were going to keep getting better and better. I agreed but also mentioned the problem with trends is they tend to continue until something unexpected happens.

Of course, if I truly had any idea what was going to happen I would have been able to capitalize on it and I would be writing this from my own private Caribbean island. If we have learned anything in the first 6 months it is that our crystal balls are usually a little bit fuzzier than we would like.

Some of the things we have learned this year are…

  • Our real estate market is resilient. Our
58 Views, 0 Comments

 

In mid-March the entire market freaked out. Buyers cancelled contracts and lenders changed underwriting guidelines. We recommended several of our owner-occupied listings take their houses off the market temporarily. I had been tracking the rolling 7-day average of homes going under contract to gauge the direction of the market. To give you an idea of how bad a shock we went through and how fast it happened here are the number of homes that went under contract in the entire Austin MLS the previous 7 days…

That was a huge drop and we’ve almost recovered. We are still off from this time last year by but transactions happen every day and things are heating up.

Despite the overall number of houses selling being down, we are not

206 Views, 0 Comments

 
Many homeowners will be facing a financial burden due to Coronavirus and if it is affecting your ability to pay your mortgage you may have more options than you think. As of the writing of this message there has not been any uniform relief among all lenders. There are several proposals but none have been agreed to. Information is coming out quickly and things are changing every day. 

#1 Things You Should Do

The most important thing you should do is not bury your head in the sand, don’t run and hide and don’t ignore calls and letters from your mortgage company.

Do You Need To Be Behind On Payments?

Even if you haven’t missed a mortgage payment yet the best thing you can do is pick up the phone or go online to your mortgage

383 Views, 0 Comments

 

Everyone is asking me “How’s the real estate market?” Here’s what we are seeing.

Transactions are still happening. As of today, March 30th, in the Austin MLS on average over 100 homes are going under contract every day. Things are slowing down but people are still selling and people are still buying.

Here's what we are seeing with our business. Some of our sellers and buyers are telling me they are going to hold off for now and I’m supporting them in that decision while I continue to keep them aware of what’s happening.

Some of our clients need to sell now and some need to buy now, and we’re doing that with all the appropriate precautions.

All of this is day by day and in some cases hour by hour. Things may be different by the

95 Views, 0 Comments