Julie Robinson of Julie Robinson & Mark Smith Associates and Erin Finke of the Yi Team Mortgage discuss the spring surge, current market events, questions from clients, and what we are seeing in the Real Estate Industry in the time of COVID-19.
Do you think that home values will drop, based on the COVID-19 pandemic?
Absolutely not. Julie and Mark have found new ways to show a home. During this spring surge, homes are selling quickly and sometimes even $10,000 over listing! We are learning something new every week, from childcare to running our businesses. We’re shifting how we’re doing things, it’s the new normal.
“People want to move. They’ve been stuck inside and see that they need more space” says Julie.
Some home search tools are outdated. Too much traffic means there is stale information on there. They aren’t being updated regularly. The right realtor has access to the most current home listings, including the spring surge of homes that haven’t even hit the market yet!
The Yi Team has a new software home valuation tool. It goes out to all homeowners to let help them understand the market and the value of their home. This is information is based on computer data. Nothing beats the advice of a great realtor who sees what’s happening in real time and in perspective.
People are curious about interest rates. Should people be refinancing?
Rates are great! Refinancing depends on the goals of the homeowner. A low interest rate is great, but what is the priority in restructering the loan? We would need to have a conversation before we can answer that question. We need to know things like how long are you going to be in the home? What do you want the monthly payment to be? In managing the largest debt you have, there is no one-fits-all answer.
The last word.
With everyone staying home, people are ready to move. There is serious competition lined up for buyers when the quarantine is over. Start now working with your realtor. Start now working with your mortgage advisor. Prepare during this spring surge so you’re ready for your move or refinance.
More about Real Estate & Mortgages during COVID-19.
Say hello to Julie Robinson, of Julie Robinson and Mark Smith Real Estate.