Seasons Real Estate

Most Frequently Asked Questions in the Last Three Weeks

Today, I want to try to answer some of the questions I’ve been asked most frequently about real estate and the COVID-19 pandemic. Has real estate been affected? At this very moment, not too much. Buyers are still buying, sellers are still selling, but going forward, that will likely change. Are buyers and sellers still interested? Yes.

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FHA Loans during the Pandemic

FHA loans are federally insured loans that are typically geared to first time buyers because they are more flexible with credit scores and require less money as a down payment. However, in recent days, there have been announcements about loan forbearance, much of which are related to FHA loans, and this makes it more difficult to

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What Can you Do to be Prepared?

It’s clear to see that many people are worried about how the COVID-19 pandemic could affect them economically, not just medically. While I can’t help you with medical advice, I can give you some tips on how to prepare for the economic burden it may bring to you. Most homeowners in our market have a

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Does a Recession mean a Housing Crisis?

No. While we are very likely to head into a recession (defined as when the GDP is negative for two quarters), that doesn’t mean it will lead to a housing crisis. In fact, in the last five recessions America has gone through, home values only dropped in two of them, one of those being 2008.

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A Tale of Two Offers

It’s something I say often- who you hire matters- but today, I want to illustrate that with a story. I recently had a listing where I received two offers. With the first offer, the agent called me before the showing to let me know that their buyers were fairly interested, then called again after the

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Coronavirus and the Real Estate Industry in March 2020

Interest rates have gone down drastically. You’ve probably heard about that, but you might be wondering why that is. Investors like to invest overseas and locally. When there are issues overseas, they will pull their money from overseas markets and invest in the bond market. The coronavirus pandemic overseas has caused investors to pull overseas

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Interest Rates are DROPPING!

Covid-19 fears, well-founded or not, are giving rise to a bit of stock market hysteria. People are pulling their money out of international stocks and putting it into bonds. When that happens, the bond rate goes down. Historically, though not actually tied to it, when the bond rate goes down, mortgage rates go down. We

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What Do Active TC and Backup Status Mean on the MLS?

We don’t all speak Realtor-ese, much to our chagrin. Let me help you with some basic understanding on the MLS (multiple listing service) with a few terms that might not make sense. If you are looking at a home that says backup, it means that the seller has already accepted an offer on their home,

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