Congratulations on making it to another week!
My job is to live and breathe real estate 24/7 so here's a little update on the current market. There is a SHORTAGE of inventory and buyers on the market right now. What does that mean? Well, that means if you are thinking of buying, now is a great time to lock in some phenomenal prices! The homes that are being listed on the market are either vacant or are motivated to sell (because really, which seller would want strangers coming into their homes if they didn't really need to move right now!).
I have had a few conversations with buyers lately on whether or not to buy real estate at this time. Over the past few weeks, I have had many buyers tell me that they have either lost their job or fear losing their job. All I can say is, hang in there - this will pass. If you haven't lost your job so far, kudos to you! Additionally, if you are thinking of buying real estate in the foreseeable future but are holding off because you fear losing your job, let's break it down together.
There are very legitimate concerns for the fear of losing your job right now. I think it is at the back of everyone's minds. But is it a perceived fear or a reality? Has your employer already started laying off workers? How is your company doing? How secure do you feel about your job? Without coming across as sounding insensitive or ignorant of each individual situation, our economy will definitely be hurting for quite some time. So if buying a home is a goal or on your radar, I would strongly encourage having an open conversation with your employer about your plans and if they can foresee anything happening to your job security. Once you have had that conversation with your employer and feel confident, ask for a letter of job confirmation so that you can get started on your financing pre-approval process!
Since we don't know for sure how long this will last, we need to learn how to adapt to market conditions. I would be more than happy to help guide you through the home buying process to see if it is a good time for you to take advantage of the deals that are out there!