Thursday, April 16, 2020 / by Raj Jaggi
With all of the havoc being caused by COVID-19, many are concerned we may see a new wave of foreclosures. Restaurants, airlines, hotels, and many other industries are furloughing workers or dramatically cutting their hours. Without a job, many homeowners are wondering how they’ll be able to afford their mortgage payments.In spite of this, there are actually many reasons we won’t see a surge in the number of foreclosures like we did during the housing crash over ten years ago. Here are just a few of those reasons:The Government Learned its Lesson the Last Time:During the previous housing crash, the government was slow to recognize the challenges homeowners were having and waited too long to grant relief. Today, action is being taken swiftly. Just this week:The Federal Housing Administration indicated it is enacting an “immediate foreclosure and eviction moratorium for single family homeowners with FHA-insured mortgages” for the next 60 days.The Federal Housing Fi ...
Tuesday, March 24, 2020 / by Raj Jaggi
The home buying and selling season has officially kicked off! While this is usually a predictable and exciting time in Real Estate, a wildcard none of us ever expected is now in play. COVID-19, or Coronavirus, has caused widespread fear, which has led many families to become uncertain of what their next step is in their Real Estate venture. In response to this, we created this article to help answer your questions and encourage you to continue your home search or sale because, in reality, this is the BEST time to buy and sell! Want to find out why? Keep Reading!
Stock Market vs. Housing Market
We are beginning to feel the effects of the outbreak in China with the shortages and delays in consumer goods. In addition, restricted travel, social distancing, and the closure of businesses in some states will all contribute to lower consumer spending, which can hurt the economy. However, the Stock Market and the Housing Market are typically not tied together sinc ...