Still can’t find paper towels at your local Target? Me neither. The pandemic has caused many everyday items that we take for granted to literally fly off the shelves.
We saw it this summer with playsets and trampolines, but the craze for outdoor enjoyment extended beyond kids play equipment to the outdoor assets a residential property boasted (like pools and patios). What could possibly be the next must-have to make your stay-at-home experience more tolerable this winter?
As we all know, 2020 has been a year like no other. A pandemic. High unemployment. Low-interest rates. An election year. Throughout it all, real estate has been steady and strong. Now we are on the brink of the holidays. With all of these factors at play, you may be wondering, when is the best time to sell your home?
In September we took our first look at comprehensive data to see whether there is evidence of “a flight to the suburbs” in the wake of COVID-19, wondering whether urban dwellers were seeking more elbow room and retreating from more dense living conditions. Two months ago, we said that any movement looked more like a ripple or a wave, and most certainly not a tsunami. With the passage of time and more data to examine, we’re seeing a ripple at best.
Ask any real estate agent doing business in the D.C. metropolitan area, and they will tell you it is almost impossible to make a competitive offer to purchase a home if you must sell your existing home first. Contract offers contingent upon the sale of an existing home are often dismissed right out of the gate. And why wouldn’t they be?
If a seller has multiple offers to purchase, at or above asking price, and some of the offers are not contingent upon the sale of any other property, the seller would generally not give much — or any — consideration to a contract offer which is contingent. So how do buyers position themselves to purchase without first selling? Bridge financing may be the answer. Many lenders do not provide bridge loans, but some of us do.
The topic of real estate and homeowners seems to constantly be a subject of discussion, especially in the midst of the coronavirus pandemic as we find ourselves in our homes more than ever and realizing if our current accommodations are working for our new normals of serving as offices and classrooms.
The purchase of a house is the largest transaction most people will ever make. Such a big and expensive decision can feel like drinking from a fire hose in terms of the amount of information available. Where do you even start? When is transitioning from renting to buying a good decision? And how much does it really cost? Here are six things to consider when evaluating if jumping into the real estate market as a buyer makes sense for you.