This pandemic has allowed me more time to play basketball with the kids, so it’s no surprise I attracted this Business Insider article. NBA legend Michael Jordan owns several multimillion-dollar homes across the US. Take a look inside his impressive real estate portfolio and see which ones are for sale. “Jordan owns two homes in North Carolina where the NBA team he owns, the Charlotte Hornets, is based. The other two are currently for sale in Illinois and Utah. Jordan is one of the greatest basketball players of all time, and he has inspired generations of successful athletes, including LeBron James and Kobe Bryant, since he retired from the NBA in 2003. In the 1990s, Jordan led the Chicago Bulls to six NBA championships and was inducted to the NBA Hall of Fame in 2009.” Does anyone else have court envy?
2. ARE BUYERS BACK?
A couple of days ago CNBC reported Weekly mortgage applications to buy a home make a strong recovery, as rates hit a new record low. “The average contract interest rate for 30-year fixed-rate mortgages decreased to 3.43% from 3.45% last week. That boosted mortgage demand from homebuyers by 12%, signaling a potential turn in buyer confidence. Mortgage applications to buy a home rose last week, but refinance demand fell, causing total application volume to decline by 3.3% for the week, according to the Mortgage Bankers Association’s seasonally adjusted index.” I’d love to hear what you’re experiencing in your market.
3. DESIGN TIME
Finally There’s Time to Read (or at Least Organize Your Books). The New York Times recently asked designers for advice on how best to live with and decorate with books. Do you love design and/or staging? The designers suggested many ways to create new looks from choosing an organizational system, going to a wall to wall stack, and creatively adding accessories. Or how about moving beyond the bookshelf and treating books as art?
4. BORROWER OPTIONS
Fannie Mae, Freddie Mac: Mortgages in forbearance do not need to be paid back all at once reports Housingwire. Fannie Mae and Freddie Mac each issued a statement Monday, reiterating that borrowers are not required to repay their missed payments all at once when their forbearance period ends. “Borrowers in forbearance will have to repay their missed mortgage payments one way or another, but there appears to be a growing number of borrowers who think they have to repay all their missed payments in one lump sum, either because they’re confused about their options or because that’s what their mortgage servicer told them.”
5. RE DICHOTOMY
Brian H. Robb Cheif Marketing Officer of Real Estate Marketing wrote an article for Forbes where he reminds us all about what happened to the real estate market 12 years ago. He suggests Why Now Might Be The Perfect Time To Acquire Real Estate. Although we were all affected, Rob suggests “instead of fearing this market or what may transpire in the near future, I recommend using this time to acquire property. Mortgage rates are unbelievably low, and in the short term, there will certainly be deals in your local market.” You may want to read more about why Rob has personally put multiple offers in on investment properties, some at 25% under list price.
BONUS: From Forbes: Here Are The Top 5 Predictions For Real Estate Once The Pandemic Subsides