Real Estate Wine'd Down - May 18
May 18, 2020
Join us every Monday at 3 p.m. for our online happy hour! Email me for login instructions.
If you missed the May 18 meeting, you can get caught up:
Our agenda included:
- Denise's Quote of the week: “If you cannot do great things, do small things in a great way” Guess who said that?
- Meet Ryan Kudota (Intro Danny): This week’s Wine’d Down promotion
- Meet Niki Hubbard: Lender update
- Meet Daniel Hartong: Appraisal overview
- NAR Economic update: Lawrence Yun, chief economist National Assoc of REALTORS®: RisMedia synopsis article:
- Home prices still on the rise. Inventory was already short and has become more acute during this time. Withdrawal of inventory has driven prices higher.
- 40% of buyers don’t expect price reductions
- Watch days on market, especially if they begin to increase across the board. This is not expected at the mid-price point (for us up to about $350k).
- Mortgage applications were down 35% but last week only 10%
- Don’t expect wide-spread foreclosures as long as 90% of workforce returns to work over the next 6 months.
- Economic woes are not due to poor economy but rather the imposed lock down.
- Danny Kraus: This week’s market activity (see charts below)
- Status of Stay At Home for REALTORS®
- Monday REALTOR® meeting