real estate interest rates during pandemic

Real Estate: Pandemic Causing Some to Take Inventory

Some people are concerned about the local real estate market during the pandemic, but I think there are reasons for optimism. This is a dynamic situation. What does that mean? Simply put, a lot of people are re-evaluating their lives.

  • Some people have been home staring at their four walls and starting to wonder about a new home…others have received pay-cuts and are realizing they need to downsize to a smaller home and a smaller mortgage to avoid foreclosure.
  • Interest rates are at record lows right now, in come cases around 3% for a traditional mortgage.
  • Some people are going to be working more often from home and may be looking for a new place with a dedicated home office.
  • Some northerners are also reviewing options and believing now is the time to finally make that move and relocate to paradise.
  • There are also reports about people leaving the big cities and going to the smaller communities and/or suburbs.
  • Some affluent Americans are selling their first homes and moving full-time into their vacation homes around the mountains or beaches.
  • Sadly, all this time together is causing some couples to take a little inventory of their own—and some sociologists are predicting a spike in the divorce rate.

What do all these things have in common? The need for a realtor. Make no mistake, these are changing times. You see it in the media—people are buying more recreational vehicles, planning more staycations. Escapes to cabins and cottages are on the rise. I have even heard some people admit they are liking some things about their new peaceful and efficient existence.

Remember my mantra, paraphrased from many wise people, including Winston Churchill: “There is opportunity in every crisis.”

Listings

I have two very different opportunities for you. A 3-bedroom home in the IMG golf community on the 7th fairway with no HOA marked down to $389,900. Or a 2-story townhouse near downtown and steps from the Hudson Bayou for $236,500.

Contact Ray

Welcome Ray Collins to the Suncoast Post

If you’d like help with your own real estate situation during the pandemic, please contact Ray Collins at 941-228-0091 or Ray.Collins@FloridaMoves.com or RayCollins.CBintouch.com. Ray is an award-winning former TV news anchor who can sell your home by leveraging a higher level of marketing with professional video production. His columns appear every other week exclusively in The Suncoast Post.

Photo credit Freddie Mac.

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Ray Collins, real estate

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