Today’s News Synopsis:
Mortgage applications increased 0.1% from last week, showing a recovery in homebuying amidst lower mortgage rates. One company that has started homebuying again using the ibuying platform is Offerpad. Residential construction could see more drones being utilized.
In The News:
Realtor.com – “Home-Buying FAQ: Your Top Questions About Purchasing Property During the Coronavirus” (5-6-2020)
“The coronavirus pandemic has thrown millions of people’s financial plans off the rails, and that certainly includes home buying.”
“The collapse in business activity during the coronavirus pandemic has elevated levels of concern among struggling homeowners about their ability to make mortgage payments over the next three months, according to a new Bankrate.com report, which found that Millennial homeowners suffering financial hardship are more likely to seek help.”
“Homebuyers appear to be heading slowly back into the market, as the coronavirus-stricken economy begins to reopen.”
Mortgage Professional America – “Can home sellers still get a nice premium this spring despite COVID-19?” (5-6-2020)
“Home sellers can typically score a premium of 10% or more during the peak of home-buying season in late spring or early summer, but the US housing market may have yet to feel the full impact of COVID-19, according to ATTOM Data Solutions..”
The Real Deal – “Offerpad to resume home-buying” (5-6-2020)
“iBuyer rolls out new safety procedures; follows Opendoor’s restart.”
“The health and economic impact of the spread of COVID-19 has been devastating, and there is still no end in sight.”
NAHB – “Using Drones in Residential Construction May Become More Popular” (5-6-2020)
“More and more home builders are embracing technology to help keep their businesses running amid the current COVD-19 pandemic.”
Aaron Norris will be presenting his latest talk Innovative Real Estate Marketing With NorcalREIA on Wednesday, June 10.
Bruce and Aaron Norris will be presenting Keep-Sell-Create in Sacramento on Saturday, June 20.
The Norris Group presents its award-winning black-tie event I Survived Real Estate 2020 on Friday, September 18.
Could HELOC’s threaten homeowners and the economy? If you wanted a better chance of getting that house, there were actually 7 instances where you wanted to offer over the asking price. Household income rose for everyone….expect the lowest income earners.
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