In the Bay Area, we have been in Shelter in Place for over 30 days. Unfortunately the flattening of the COVID 19 has not reduced the curve as much as officials have hoped. Meanwhile consumers are wondering when they will be able to go back to some normalcy in life.
In terms of Real Estate… it continues to be in demand. Predictions state that this may not be the case in the future, unless officials come up with a plan for consumers to stay healthy but still productive. Real Estate continues to stay high in value since inventory is so low but with consumer confidence being low and because Shelter in Place is still in affect, properties may sit on the market for longer periods.
This is creating opportunities for first time home buyers. Because of the stock market correction, 1st Time Buyers, don’t have to compete with buyers that were using stocks to purchase a property or that had large down payments, putting 1st Time Home Buyers into competitive position. In addition, sellers are getting antsy, wondering why their homes are not selling or when they may sell.
For more info on the above, about the Bay Area Real Estate Market and Current rates, please tune into my You Tube channel at 101 Loan or at https://youtu.be/-3DSUCsKQVg.
For more info on the above, about the Real Estate Market locally and about current interest rates, tune into my You Tube channel.. If you would like to get pre-approved, please contact us at www.101loan.com or complete the following questionnaire at https://101loan.com/purchasing-start/.
Any questions, please contact me at https://101loan.com/contact-us/.
All The Best,
Owner and Senior Mortgage Planner
101 Loan LLC