There are a lot of reasons to celebrate today. Sure, we are in a pandemic and many people are divided by the who’s who in politics, but there are still so many reasons to celebrate, at least in the real estate industry. Low interest rates, great mortgage incentives — for both new and seasoned buyers — and lower credit scores are celebration enough.
When interest rates go down, people qualify for a higher priced home for the same monthly payment. As Chris Marr, a mortgage sales manager says, “Current rates are still low and underwriting standards have also been lowered and modified in order to help first-time homeowners with approvals.” In addition, mortgage companies have rolled out a wide range of mortgage products, which ensures that all buyers have products to fit their specific needs.
The current housing shift has made this a seller’s market. In a recent article Lawrence Yun, Chief Economist at the National Association of Realtors, states that we can “expect mortgage rates to remain low into 2021. As a seller in this market one could most assuredly rely on getting [his] home sold and celebrat[e] a top of the market, fair market value price at closing.”
As we enter the festive holiday season, many things have had to change. There will be more virtual Thanksgiving and holiday meals, with people scheduling screen time to eat together instead of meeting in person. But there is a positive side to this. With the whole world going virtual, homes are being marketed and shown online, which gives a wider audience the opportunity to consider different homes, different markets, and even cities that they may not have had the chance to visit. Often buyers are moving to accommodate a job change or military base relocation. In the current seller’s market, buyers can do a virtual tour of the home in their pajamas late at night — now that’s a call for celebration! Consumers can share their findings with loved ones instantly. Gone are the days of, “Oh I wish you could see this one!” With just a click of a button, the entire tribe can participate in the house-hunting journey — another reason to celebrate.
When choosing your real estate professional, make sure your agent has the necessary mass media marketing tools at his or her fingertips. Sellers need their homes marketed to the world, and buyers want immediate access to homes for sale globally. Some agencies are set up to do just that, with available marketing strategies in partnership with major platforms such as Google, Facebook, Instagram, and Twitter. Also consider name recognition when you are picking your agent — if you can see it online, so can millions of others.
Homeowners often ask whether they should decorate or entertain while their homes are on the market. There is nothing wrong with nice décor and festive lighting. Keeping it fashionable and clean, with minimal clutter, is always a good rule of thumb no matter the season or occasion. As we all get ready to ring in the new year and say farewell to the year that could not break us, celebrate the ways in which you have learned to become resilient. Celebrate the history you are a part of and celebrate the closeness we share even through a virtual screen. Celebrate health, wealth, and democracy. Celebrate well.
