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10/20 Market Update

By Madison Blean of Lawyer's Title - October 20, 2020
10/20 Market Update   Residential real estate is outperforming the rest of the economy. The strong market going into the pandemic combined with historic low interest rates enabled to us to get here. We learned that these low rates trump COVID and our home is our castle. Despite the unexpected growth we are experiencing today, many experts are seeing warning signs around future affordability

9/30 Market Update

By Madison Blean w/ Lawyer's Title - September 30, 2020
9/30 Market Update   As we approach the 4th quarter new and/or updated projections for the coming year are emerging. Politics aside, nothing about 2020 has been predictable; economists and analysts struggle to make sense of it all. “The US economy and labor market are recovering from the coronavirus-related downturn more quickly than previously expected, economists said in a mont

9/24 Market Update

By Madison Blean w/ Lawyer's Title - September 24, 2020
9/24 Market Update   Let’s start with seemingly the most talked about topic right now, forbearance. Forbearance: Mortgages in forbearance dropped to 7.01% last week from 7.16% putting roughly 3.5 million homeowners in forbearance plans. (MBA) 9.48% of the forbearance exits were due to permanent loan modifications. (MBA) 33.69% of loans in forbearance are in the initial plan stat

9/16 Market Update

By Madison Blean of Lawyer's Title - September 16, 2020
9/16 Market Update The intensity of today’s market is somewhat reflective of the 2005 housing market giving many people 2008 PTSD. Although the market may feel similar, in reality, it is very different. You must ignore the headlines and remember the media’s goal is to increase eyeballs for advertisers. Shocking stories sell. And you have to remember, every market is different. The Pho

9/9 Market Update

By Madison Blean of Lawyer's Title - September 09, 2020
9/9 Market Update National Real Estate: Residential real estate is providing the most significant boost to the economy. While other industries struggle residential real estate is going gangbusters and is a part of the solution. “Perhaps in the middle of 2021, we will have more semblance of a balanced market.” Dr. Lawrence Yun, NAR Matthew Gardner, Windermere’s Chief Econom

8/31 Market Update

By Madison Blean of Lawyer's Title - August 31, 2020
8/31 Market Update Projections, forecasts, and predictions are educated guesses and are the only guides we have available today. Navigating uncharted territory without a compass is challenging at best. Nothing about this year’s real estate activity fits into the usual cyclical patterns. Data companies are updating their projections seemingly daily. Projections are based on trends and it tak

8/26 Market Update

By Madison Blean w/ Lawyer's Title - August 28, 2020
8/26 Market Update Economic Indicators: Many economists are calling this a K shaped recovery. That means that some are having a positive recovery or are fully recovered while for others the struggle continues to worsen. Economist and real estate consultant, Elliott Pollack calls it the “have and have not economy.” Those with jobs have saved money and are in good financial standing.

Market Update 8/11

By Madison Blean of Lawyer's Title - August 11, 2020
8/11 Market Update We know a lot more now than we did five months ago but a great deal remains to be seen and so much is still unknown.Let’s start with what we do know. Real estate is saving our economy. What We Know: Demand for real estate is intense all over the country and it is reflected in the 11% year over year sales price increase for the last week of July. The national median sal

8/6 Market Update

By Madison Blean of Lawyer's Title - August 06, 2020
8/6 Market Update Realtors, lenders, buyers, and sellers are exhausted. The Spring and Summer home selling season has been crammed into two months. Not to mention the worldwide pandemic, economic uncertainties, delays in school re-openings, and a heated political climate. To say that there is a lot going would be an understatement. Despite the stress of the unknown, we do know that real estate is

7/28 Market Update

By Madison Blean w/ Lawyer's Title - July 28, 2020
    7/28 Market Update There is definitely some irony in the fact that real estate caused the Great Recession and only 10 years later real estate is driving our current economic recovery. As we face our economic reality of today; we have to look at the good (real estate), the bad (employment struggles and school closures), and the ugly (unemployment). “While other segments of

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