What is news and new in the world of California real estate?
First, I hope you are all safe and healthy. The Covid-19 has hit our family and friends. My son in law most likely had it and recovered. I did have one friend in my business world die of it. I also have a very old aunt recovering.
The Covid-19 is having a very big impact on the world of mortgages. The lenders are adding conditions to loans to make it much hard to close or fund a mortgage at this time. The future for mortgages is not looking good also because of all the forbearance activity. This could make finding buyers who qualify for a mortgage very hard.
Some real estate properties are coming down in price. Appraisers are feeling the pressure to give lower priced values. I have one deal in contract and the appraiser gave a lower price. But I was able to hold the deal together and the buyers are paying above appraised value (I am representing the sellers).
Here are the latest videos. Please give a watch and comment on them please
6 reasons to buy a home shows the value of home-ownership. The home is a strong pathway to personal wealth, deepening community connections and personal happiness.
This powerful insight will make you the winner of your new home. The power of this step is the proof you can buy the property. The mortgage pre-approval letter is the key.
Submitting proof, you can get the money to buy the home is paramount in the seller’s mind. Unless you satisfy their need to know for sure you can buy the house your offer will lose to other offers that prove it.
PS If you want to REFI your home to get a better rate or cash out let me know.
PSS if you want to sell and relocate some where else we have lots of ways to make that happen.