CAN I GET A GREAT PRICE ON A HOUSE? #COVID19 PANDEMIC Has the COVID -19 (Coronavirus) Pandemic produced a buyers market? Have homes sellers lowered their prices to offset the reduced buyer pool? How long will this real estate pause last? Note: This video contains time sensitive data from a National Association Of Realtors Survey. Watch it today... ✔Free Home Buyers or Sellers Guide: http://freeebook1.toplirealtor.com/buyer/sellerguide
Does the current coronavirus mean Real Estate's on sale will you be able to get
a great deal on a house that's a topic of my next video
can you miss the homebuyer get a great price on a house since the coven 19
pandemic are the sellers giving their properties away that's the topic of
today's video hello everybody my name is Mark Schreier and I'm a licensed sales
associate with century 21 American homes Real Estate right here in Syosset Long
Island basically everybody wants a great deal is this pandemic gonna turn into a
buyers market is it currently a buyers market we're gonna discuss some basic
facts and principles I'm gonna give you some research that the National
Association of Realtors has shared current research dated mid April which
we're in right now everybody wants a great deal supply and demand dictates a
market the stock market is going chaotic right now take a very big dive one up a
little drop a little according to the news of the day real estate right now
particularly on Long Island is sort of on a pause it's under stand still
Realtors can still sell properties properties are still closing not near
the amount of properties that close compared to a traditional spring market
people are waiting on the side and watching but they inventory is has
always been low the the mortgages are at historic lows it's a great time to
refinance if you're able to meet the parameters of of the banks that are
ever-changing and I will include a link to a video I made about what's going on
with the current mortgage rates since Cove in nineteen and what you're
expected to have credit score wise and things that alike so check out that
video if you're interested in refinancing or you want to enter the
market as a buyer and you want to know if you can get pre-approved so what does
it mean can you get a great deal well the National Association of Realtors
survey showed that even though the market was very strong before an
interest rates are very low for that reason sellers are not willing to budge
in in generally yes you're always gonna find a seller that needs to get out or
has already moved and the house is empty but in general the Realtors that were
surveyed about their buyers they did not I mean their sellers their sellers
not want to lower their prices but then there's the dilemma you got 63 percent
of buyers expecting lower prices and you get 72 percent of sellers say no I'm not
lowering my price so we're gonna see who blinks first what's going to determine
it well the fact that the mortgage rates were very good before which means a
strong buyer poll the inventory was always limited it all depends on
unemployment rate how long people stay unemployed how much this stimulus the
second bump of the stimulus package helps people and even if it helps people
if you're unemployed you're not gonna be getting a mortgage if you're a cash
buyer and you have liquid cash you cash is always King it's gonna help you
significantly if this health crisis keeps going for a lot longer than people
are expecting it to but we don't know like I said I don't have a crystal ball
things are starting to open up now if things can open up in the country
without any significant hiccups and more you know real lock downs then we would
say in 3 to 6 months hopefully real estate will be back things will never be
the same which will be the topic of another video on how to how showing
houses and everything is going to change since this covered 19 pandemic but would
that be inset again can you get a great deal on a house if you have cash I would
say your chances are better if you're willing to be in the market now and look
at houses you might not get a great deal but you might be able to get the house
that you were hoping to get in an area because the buyer pool is significantly
reduced can you still go through the transit transaction of buying that house
and doing everything with attorneys and appraisers the answer is with a good
realtor a good real estate firm yes my company and myself can go through a
total virtual transaction never having to see the property never having to
enter the property you can buy a property that way and it also is
adhering to the CDC and social distancing guidelines I hope this was
helpful if you enjoyed the video please give me a thumbs up and don't
forget to subscribe in the bottom and click the bell for notifications this is
Mark Schreier from the century 21 American Homes and stay safe
