All Forum Posts by: Catherine Emert

Networking is the best thing you can do with your time if you are just starting out. There are a ton of virtual meet up groups happening every day! Talk, connect, reach out. I am personally using this time to build our sphere of contacts, helping those in need and giving back to local businesses and the community. A little truly goes a long way in our current situation. 

We have closed 4 deals and put an additional 3 into escrow! We are amping up our marketing, giving back to our community and local small businesses and doing our part to help those in need! Sometimes we have to switch gears, do things differently, but if we adapt and rise above the situation we all come out a little better for it!

I think that it depends on if the court will honor it or even see the case until the dust settles. I know it's not ideal but I would work with your current tenants to either A. Help them find suitable replacement or B. Let them ride out this storm. Moving is added stress for everyone given what our country is up against.

Our phones are still ringing - 3 offers this morning - 2 on listings and 1 for a buyer. I think it depends heavily on where you are at, but if you can get it into escrow before everything is shut down you may be okay - try for a few backup offers as well. You may have it for a couple of months in escrow but at least you will have secured buyers.

I would contact the title company - they can send out the document for signatures. They do it all the time.

We have moved most things to technology - we are suiting up and offering 3D scanning homes for FSBOs, other brokers and our clients all free of charge. We have the means to step aside but want to assist those who are unable to do so. We are offering all meetings online for all clients. We are helping our brokers understand steps they can take to keep things moving. Additionally we are taking this time to overhaul our website, catch up on video recordings we have been wanting to do, marketing projects and continuing education along with new designation courses. This is a great time for us to work on all the things we are normally too busy to keep up with.

Interest rates on mortgages and refis will not be this low. Mortgage rates are based on number of applications and demand. Currently people are still buying so every lender I know is trying to let people know that this does not mean mortgage rates.

The 0% is not on loans - this is the federal interest rate - lenders base their interest on the number of application for refi and for new loans.  The rise in interest rates we saw not too long ago was due to the backlog on applicants they had. All the lenders I know are trying to get this information out there.

Not necessarily - mortgage rates are based more on the number of applications - refi and new loans - if people are still buying we may not see a drop. It's a wait and see what happens right now. 

It may not effect the mortgage rates - mortgage rates don't allows follow the fed rate. They are usually based on the number of applications - refi and new loan. When we saw the rates go up not too long ago it was merely to slow things down so that lenders could take care of their back log and catch up.