CNBC reports this week’s Mortgage demand from homebuyers shows unexpectedly strong and quick recovery, as applications spike 9% from a year ago. “Mortgage applications to purchase a home also rose 9% last week from the previous week, according to the Mortgage Bankers Association. That is the sixth consecutive week of gains and a 54% jump since early April. Refinance volume has not been as strong. Those applications fell 0.2% for the week but were still 176%.” Are these fleeting occurrences or is the market coming back stronger than ever?
2. SASQUATCH SITING
Daniel Oster was getting ready to list a five-bedroom, three-bath home in Felton, California, when he decided to do a little something extra to make the home stick out to buyers. Check out the HuffPost article published when Real Estate Agent’s Zillow Listing Goes Viral Thanks To Bigfoot. Are you looking for creative ways to market your home or new listing?
3. HOMESPUN FUN
“As millions of Americans prepare for a summer spent largely at home, despite the loosening of some stay-at-home orders, many are taking a fresh look at their outdoor spaces and finding ways to make them more inviting.” The NYT suggests Turning Your Backyard Into a Vacation Spot since summer camps are shut down and beach vacations seem a bit risky. Here are a few ways homeowners are investing in ways to create a summer retreat at home.
4. LEANING INTO THE UNCERTAINTY
“Anyone who tells you they know what the future holds is lying. The housing market, somewhat like the stock market, has been okay lately — even during a pandemic, an economic recession, and a landscape where looking two days into the future seems murky, let alone two weeks or two months. It took a significant dive when the coronavirus first took hold in the United States and stay-at-home orders began to be put in place in March, but in recent weeks, it’s begun to come back. Everything’s not exactly back to where it was pre-pandemic, but the sky isn’t falling, either.” Read the Vox article, Why housing prices aren’t dropping in the pandemic.
5. CASH FLOW & APPRECIATION
While the national real estate market faces significant uncertainty right now, it’s important to recognize that past crises, like the Great Recession of 2008, have taught us valuable lessons on how to operate when the future isn’t so clear. Here are four of Forbes’ Real Estate Investing Principles For Navigating A Crisis.