COVID-19 Mondays With Matthew

Matthew shares his thoughts and predictions on how COVID-19 will the mortgage market.

This Monday’s Topic covers JUMBO LOANS:
– What is a Jumbo Loan 

– COVID-19 Impacts to Jumbo Loans & Bond Holders

– Bond Holder Actions

– Jumbo Loan Predictions Post COVID-19 

Join us next week for Matthew’s thoughts and predictions on the mortgage market as it relates to conventional loans.

Posted on April 6, 2020 at 10:58 pm
Justine Marx | Category: Economics | Tagged , , , , , ,

Coronavirus Protections for Home Buyers

 

As the situation develops with the COVID-19 pandemic, Windermere Real Estate is dedicated to taking steps to reduce the spread of the virus while continuing to work with home buyers. To help with this process, here are some ways you as a home buyer can keep yourself and others safe during the buying process.

 

WHEN TOURING HOMES

❱ Only tour the property if you feel healthy.

❱ Ask your Windermere agent to show you the property instead of attending an open house.

❱ Drive separately from your agent to the property.

❱ Be considerate of the seller’s home and wash or sanitize your hands before entry, touching as little as necessary. While many sellers will likely provide it, bring your own hand sanitizer and use before and after you tour the home. You might also consider wearing disposable gloves for further safety.

❱ Ask your agent to confirm with the seller’s agent that they have not recently been sick or in contact with someone suspected of having COVID-19.

❱ Sellers often ask you to take off your shoes when you tour their home or wear protective booties that have been provided. Consider bringing your own booties and throwing them away when you’ve finished touring.

❱ Be mindful of how much you touch things in the home and minimize contact with doors and hand railings.

❱ Reduce the amount of time spent with other people in the same room. This “social distancing” practice can curb person-to-person spread.

DO NOT TOUR HOMES IF

❱ If you are currently self-quarantined because of illness or other reasons, you should not tour homes in person. Ask your Windermere agent to video chat with you while they tour the home so you can see it virtually.

❱ Do not view homes when you’re sick, feeling like you’re about to be sick, or getting over an illness.

❱ We do not recommend touring homes after returning from international travel or travel that exposed you to a large group of people in close quarters, like large events.

 

Find our Coronavirus Protections for Home Sellers here:

Posted on April 1, 2020 at 5:58 pm
Justine Marx | Category: Buyers | Tagged , , , , ,

COVID-19 – Mondays with Matthew

This Monday’s topics cover: 

– Economy Performance & Predictions by Quarter
– Unemployment Rates
– Need for Economic Stimulation

Posted on March 23, 2020 at 7:36 pm
Justine Marx | Category: Economics | Tagged , , , ,

COVID-19 & The National Housing Market

 

How will COVID-19 impact the national housing market? 

Take-aways from Chief Economist, Matthew Gardner

Housing Market

  • Expect a 10% -15% contraction in the number of home sales for 2020 
  • Contraction is anticipated to be brief and pick back up quickly
  • Qualification and financing is going to more achievable than ever
  • Low supply in new construction, but households are still being created which puts upward price pressure on housing stock

Buyers

  • Mortgage Interest Rates continue to remain extremely low and are expected to remain low
  • Buyers are influenced by the economy and with 70% of the US economy being influenced by consumption and the stock market declining, buyers concerns of job security arise and the option to obtain a down payment from selling stocks is limited
  • Take Action: Buyers, look for lending options that offer achievable money down and doesn’t create a risk for leveraging stocks or completely deplete savings during this uncertain time. Leverage the low interest rates while they last and understand how a decline in interest rates can significantly change your monthly mortgage, making home ownership more achievable in the long term.

Sellers

  • Inventory may drop as, depending on market, sellers may be hesitant to list
  • Sellers may be cautious to open their home to potential buyers
  • Take Action: Discuss virtual safe tours with your agent to keep your listings moving and buyers looking.

Recession

  • Will we experience a recession in 2020? Yes, if the economy continues to see a shirk through Q3.
  • How long will it last? Because there is nothing systemically wrong with the market, if a recession occurs, it will be a short term impact.
  • The economy is expected to recover and to be much healthier than in the second half of 2020 than what is experienced in the first half.
  • Note – A recession is two or more quarters during which the economy shrinks.

 

Most importantly! Order take-out, get coffee to-go, buy gift cards and find every opportunity to continue to support your small businesses and stimulate the overall economy. Action now will lessens the impact when we fully recover from COVID-19.

Posted on March 17, 2020 at 7:15 pm
Justine Marx | Category: Buyers, Buyers & Sellers, Investors, Sellers | Tagged , , , , , ,

St. Patrick’s Day – Crowds, Solitude and The Coronavirus

Have your annual St. Paddy’s Day celebration plans with friends and family and maybe hundreds or thousands of other people now changed due to the COVID-19? I know mine have. In an effort to slow the spread of this disease and to protect others, most of us have chosen to opt out of celebrating the holiday with large groups of people. Not only has the St. Patrick’s Day parades been canceled, but there has been a complete halt to a lot communal events and activities; such as children’s sports, public sporting events, going out to restaurants, family gatherings, etc. So what are we to do with ourselves in this time of expected solitude. There is so much more than locking ourselves in a house full of toilet paper and Lysol mist.

 

Go for a hike, it might be a chilly one, but nature will not infect you and unless you’re high-fiving or allowing yourself to be sneezed on other hikers you should be able to avoid the risk. Don’t want to brace the chilly weather? Go for a drive through the Rockies! Throw on your favorite St. Paddy’s Day t-shirt, load up a couple of healthy friends, pack a lunch, and spend the day viewing the beautiful Colorado scenery. Invite your friends over to wash their hands for 20 seconds with soap and water, hose them down with antibacterial chemical spray, serve the green beer, and enjoy each other’s company over a game of cards. My point is, don’t torture yourself with locking yourself inside away from others, continue to interact while still being thoughtful to the purpose of trying to control something that may not directly affect you, but may affect your loved ones. Respect the greater cause while still being a happy lad.

 

Wishing you all a HAPPY, SAFE, & HEALTHY St. Patrick’s Day!

Posted on March 13, 2020 at 3:16 pm
Justine Marx | Category: Uncategorized | Tagged , , , ,