What a different world we live in at the moment. Stay safe and stay positive. Even in the midst of this we still have transactions going on, and some eventually will drop or postpone. And, of course the statistics are based on lagging data, so we will see how March plays out. February had it's highest month over month sales increase in 13 years as compared to January sales. Demand is still high and likely will remain, but, consumer spending will be down and job situations may change dramatically which would affect buying decisions and ability at some point. But for now, there seems to be a surprising amount of persistence in closings.
A rapidly emerging focus on keeping folks afloat during this time of crisis is happening. There are rumblings of some mortgage companies providing temporary forbearance programs. Bank of America announced such a program. It sounds like a typical forbearance whereby the waived payment will be on the back end, but for some this may be a life saver. Check in with your bank or credit union or mortgage company and if it is not posted on the company site then: chat, email, or call them directly and ask. There may be valuable info just not posted yet.
If you have been working with an I-buyer such as Opendoor, Zillow, or Redfin, there may some programmatic pauses or changes, so be aware and get your information from that particular source.
Chase Bank Covid Info
Forbes.com Article. List of Banks with Customer Assistance Programs.
If you have questions about the Prescott Areas or want to check in on the market when you are ready, drop me a line.
Thoughts and Prayers to All.
