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>>> WELCOME BACK. FINANCIAL UNCERTAINTY HAS LEFT
A LOT OF US WONDERING IF THIS
IS A GOOD OR BAD TIME TO BUY OR
SELL A HOME.
WE'RE TALKING THIS MORNING TO
SEATTLE REALTOR BROOK DAVIS
ABOUT HER LATEST TIPS AND HER
VIEW ON THE MARKET.
GOOD MORNING, HOW ARE YOU?
>> GOOD, GOOD MORNING,
MARGARET.
MARGARET.
MARGARET. THANKS FOR HAVING ME ON TODAY.
>> IT'S WONDERFUL TO HAVE YOU.
IS IT A GOOD TIME TO BUY?
WHAT SHOULD YOU CONSIDER AT
THIS POINT?
THIS POINT? >> YEAH, THAT IS A REAL GREAT
QUESTION.
QUESTION.
QUESTION. YOU KNOW, I THINK A LOT OF
PEOPLE AREN'T SURE WHAT IS EVEN
ALLOWED TO HAPPEN RIGHT NOW
WITH REAL ESTATE.
SO LET'S FIRST TAKE ONE STEP
BACK AND JUST REMEMBER REALTORS
ARE E ESSENTIAL, SO WE'RE ABLE
TO GET OUT INTO THE FIELDS,
WHICH MEANS WE CAN WALK INTO
HOUSES WITH THE HOME BUYER.
IN THIS PHASE 1 WE CAN WALK IN
WITH ONE HOME BUYER BECAUSE WE
CAN ONLY HAVE TWO PEOPLE IN THE
HOUSE AT THE SAME TIME.
IT IS A GREAT TIME TO BUY
THOUGH, MARGARET.
THOUGH, MARGARET. THE SPRING MARKET HAS BEEN A
LITTLE BIT DELAYED, SO WE'RE AT
A TIME OF THE YEAR WHEN WE ARE
REALLY EXPECTING A LOT OF NEW
INVENTORY TO COME ON THE MARKET
AS PEOPLE HAVE BEEN WAITING TO
LIST THEIR HOMES.
SO I'M EXPECTING BUYERS WILL
HAVE A LOT TO CHOOSE FROM IN
THE NEXT COUPLE OF MONTHS.
WE ALSO HAVE LOW INTEREST RATES
TOO.
TOO.
TOO. >>
TOO. >> YEP, THAT IS ALWAYS
IMPORTANT.
IMPORTANT. WHAT ABOUT SELLING?
I MEAN JUST WHAT YOU DESCRIBED
A COUPLE OF PEOPLE COMING INTO
YOUR HOUSE, KIND OF OVER AND
OVER AGAIN IN THE MIDDLE OF A
PANDEMIC.
PANDEMIC.
PANDEMIC. SOMETHING THAT COULD BE A
LITTLE WORRISOME.
LITTLE WORRISOME. WHAT ARE THE SAFETY RULES THAT
WILL GO ALONG WITH THAT?
>> YEAH, I MEAN WE HAVE TO
FOLLOW CDC GUIDELINES.
NOW WHEN IT COMES TO SELLING
YOUR HOUSE, IN MOST CASES
PEOPLE ARE PUTTING THEIR HOUSE
ON THE MARKET WHEN IT IS
VACANT.
VACANT.
VACANT. IT DOESN'T NECESSARILY MEAN YOU
HAVE COMPLETELY MOVED OUT OF
IT, BUT WE HAVE A NUMBER OF
STRATEGIES TO SAY CAN YOU LIVE
OUTSIDE THE HOME FOR THE FIRST
WEEKEND OR THE FIRST WEEK THAT
IT IS LISTED ON THE MARKET.
AND RIGHT NOW MARKET TIMES HAVE
BEEN QUITE SHORT WE'VE SEEN A
LOT OF INVENTORY MOVING IN
SEVEN TO TEN DAYS ON THE MARKET
IF IT IS PRICED WELL AND AN
ATTRACTIVE HOME.
ATTRACTIVE HOME. >> LET'S TALK ABOUT HOW THE
PANDEMIC HAS AFFECTED THE
MARKET AND NOW WE'RE ON THE END
OF THE ERA OF SOCIAL UNREST AND
PEOPLE ARE VERY ANXIOUS IN
GENERAL.
GENERAL.
GENERAL. HOW IS THAT REFLECTED IN WHAT
YOU'RE SEEING IN TERMS OF
BUYING AND SELLING HOMES?
>> YOU KNOW IT IS ACTUALLY
FASCINATING, MARGARET.
FASCINATING, MARGARET. PEOPLE WANT TO BUY AND SELL
HOMES RIGHT NOW.
IT IS THE THING THAT NUMBER ONE
WE CAN DO IT.
PEOPLE CAN GET OUTSIDE OF THEIR
HOME AND THEY CAN TOUR HOUSES.
IT'S NOT THAT THEY WANT TO GET
OUT AND TOUR HOUSES, IT'S THAT
PEOPLE THEY WANT TO LIVE IN THE
PLACE WHERE THEY WANT TO LIVE.
I THINK THAT THIS PANDEMIC HAS
REALLY HAD PEOPLE TAKE THE TIME
TO THINK ABOUT WHAT IS
IMPORTANT TO THEM.
IT IS VERY IMPORTANT WHERE WE
LIVE, RIGHT?
LIVE, RIGHT? AND SO ARE YOU LIVING IN THIS
SPOT WHERE YOU WOULD LIKE TO
LIVE RIGHT NOW, YOU KNOW, YOU
THINK ABOUT THAT.
IF YOU'RE NOT, THEN IT MIGHT BE
A GOOD TIME TO BUY, RIGHT?
AND INTEREST RATES ARE LOW, IF
YOU CAN AFFORD TO MAKE THAT
CHANGE.
CHANGE.
CHANGE. IF YOU HAVE A CONSISTENT JOB,
YOU'RE NOT WORRIED ABOUT
SOMETHING HAPPENING WITH YOUR
JOB SITUATION.
JOB SITUATION. BUT YOU KNOW YOU WANT TO LIVE
IN A BIGGER HOUSE OR A
DIFFERENT LOCATION, THEN IT
MIGHT BE THAT TIME TO MAKE THAT
CHANGE IN YOUR LIFE.
SO WE'RE ACTUALLY SEEING A LOT
OF PEOPLE WHO ARE GETTING OUT
AND FEEL VERY READY TO MAKE
THAT CHANGE OR MAYBE YOU'RE A
FIRST-TIME HOME BUYER, EVEN
RENTING A LARGER APARTMENT
BUILDING.
BUILDING.
BUILDING. YOU'RE READY TO GET OUT OF
THATMENT PA BUILDING RIGHT NOW.
YOU'VE BEEN IN IT FOR A COUPLE
OF MONTHS OR SO AND YOU REALLY
WANT TO SHOP FOR HOMES, SO YOU
NOW HAVE A NEW PLACE THAT YOU
BUY AND YOU CAN WORK FROM HOME
OR ENJOY MORE TIME AT HOME IN.
>> LET'S TALK A LITTLE BIT
ABOUT PRICES, FIRST OF ALL, IF
THEY'RE HOLDING UP.
AND ALSO MARKETING.
I UNDERSTAND WE'RE STILL NOT
ABLE TO HAVE OPEN HOUSES UNTIL
WE MOVE FORWARD, CORRECT?
>> THAT IS CORRECT, YEAH.
SO IT HAS BEEN KIND OF FUN TO
SETHAT WE CAN PIVOT A LITTLE
BIT AND WE CAN ADJUST HOW WE
HAVE BEEN DOING OUR MARKETING.
WE ARE HOLDING VIRTUAL OPEN
HOUSES.
HOUSES.
HOUSES. THAT'S WHERE YOU CAN ACTUALLY
POST YOUR OPEN HOUSE LIVE AND
YOU CAN PUT THE URL THAT YOU
PLAN TO HOST IT ON.
PEOPLE ARE USING FACEBOOK FAN
PAGES OR A ZOOM URL, AND THEN
THE PUBLIC, THEY CAN ACTUALLY
TUNE IN TO THAT LIVE AND ASK
YOU THOSE QUESTIONS THAT
SOMETIMES SEEM SILLY LIKE, YOU
KNOW, GOSH, WHAT IS THE LIFE
LIKE IN THE CORNER OF THE
HOUSE?
HOUSE?
HOUSE? I
HOUSE? I SAW THERE WAS A TREE OUTSIDE
THE WINDOW.
THE WINDOW. IS IT REALLY RIGHT THERE OR
NOT?
NOT?
NOT? AND
NOT? AND IT IS REALLY FUN THAT THEY
HAVE THE OPPORTUNITY TO ASK YOU
THAT QUESTION THROUGH A VIRTUAL
OPEN HOUSE BEFORE THEY GET OUT
AND VIEW IT.
SO YOU KNOW YOU ASKED A LITTLE
BIT ABOUT TAKING PRECAUTIONS
BEFOREHAND.
BEFOREHAND. AND I DID WANT TO MENTION THAT
WE HAVE A LITTLE DIFFERENT
STRATEGY IN BUYERS WHO ARE
SHOWING WHAT THEY WANT TO LOOK
AT.
AT.
AT. SO
AT. SO MAYBE DRIVING BY THE HOUSE,
DOING A VIRTUAL TOUR FIRST,
LOOKING AT ALL THE PICTURES
ONLINE.
ONLINE.
ONLINE. SO YOU'RE NOT JUST GOING OUT,
LOOKING AT TOO MANY THINGS
UNNECESSARILY.
UNNECESSARILY. WE'RE REALLY NARROWING IT DOWN.
>> THAT MAKES SENSE.
TELL ME ABOUT PRICES.
>> YES, SORRY, I WENT UP ON
MARKETING THERE.
MARKETING THERE. SO PRICES, VERY INTERESTING.
RIGHT NOW HOME PRICES YEAR OVER
YEAR IN MOST AREAS, THEY'RE ON
THE RISE.
THE RISE.
THE RISE. AND SO WE HAVE A VERY LOW
AMOUNT OF INENHAVE INVENTORY.
WHAT THAT IS DOING, SUPPLY AND
DEMAND IS CREATING MULTIPLE
OFFER SITUATIONS ON A LOT OF
HOMES.
HOMES.
HOMES. SO
HOMES. SO WE ARE SEEING HOMES
APPRECIATE THROUGH THIS
PANDEMIC RIGHT NOW.
WITH THE MARKET CONTINUING TO
BE QUITE BUSY, IT IS EXPECTED
THAT PRICES WILL PROBABLY GO UP
A LITTLE BIT OR STAY STRONG
RIGHT NOW.
RIGHT NOW. I'M NOT SEEING A DIP IN PRICES.
>> AND WHAT ARE SOME OF THE
OTHER MARKET INDICATORS THAT WE
SHOULD BE TAKING A LOOK AT IF
WE ARE CONSIDERING ENTERING THE
MARKET EITHER AS A BUYER OR A
SELLER?
SELLER?
SELLER? >> SURE.
>> SURE.
>> SURE. YOU KNOW AT THE VERY BEGINNING
OF THIS PANDEMIC, THERE WAS A
LOT MORE UNKNOWN.
AND SO THE THINGS AND THE
INDICATORS THAT I'M TALKING
ABOUT RIGHT NOW ARE A LITTLE
BIT DIFFERENT THAN WHAT I MIGHT
HAVE BEEN TALKING ABOUT TWO
MONTHS AGO.
MONTHS AGO. AND SO TWO MONTHS AGO, WHEN WE
REALLY HAD MORE UNKNOWN WITH
THE ECONOMY, PEOPLE REALLY
WONDERED WOULD WE HAVE A
MORTGAGE CRISIS AGAIN LIKE WE
DID IN 2008 AND 2009.
RIGHT NOW THAT IS NOT WHAT
WE'RE SEEING BECAUSE WE ARE
SEEING HOME PRICES REMAIN
STRONG HERE IN SEATTLE.
THAT DOESN'T SEEM TO BE ONE OF
THE INDICATORS THAT PEOPLE ARE
LOOKING AT.
LOOKING AT. AND SO THE INDICATORS THAT I
WOULD ADVISE THAT WE LOOK AT IS
REALLY WHAT DOES THIS MEAN FOR
YOU?
YOU?
YOU? IS
YOU? IS IT A GOOD TIME FOR YOU?
AND SO KIND OF GOING BACK TO IS
YOUR JOB SITEDUCATION WITH A
STABLE AND DO YOU FEEL
CONFIDENT RIGHT NOW IN ENTERING
INTO THE HOME MARKET?
>> THAT TOTALLY MAKES SENSE.
BROOK, THANK YOU VERY MUCH.
>> YEAH, THANK YOU FOR HAVING
ME ON.
ME ON.
ME ON. YOU KNOW, ONE KIND OF QUICK
THING I WOULD LIKE TO SAY WITH
TRENDS, IT IS INTERESTING TO
SEE SOME OF THESE TRENDS AND
THINGS PEOPLE LIKE NOW VERSES
WHAT THEY LIKED OVERALL BEFORE
THE PANDEMIC.
THE PANDEMIC. SOME OF THAT IS CHANGING A
LITTLE BIT.
LITTLE BIT. AS WE SPEND MORE TIME AT HOME,
FOR EXAMPLE, HAVING THAT SPACE
WHERE YOU WORK FROM HOME AND
THEN ENVISIONING THAT IS A HOT
TOPIC, WHERE IT DIDN'T USED TO
BE.
BE.
BE. >>
BE. >> THAT TOTALLY MAKES SENSE,
THANK YOU.
THANK YOU. AND IN FACT WHEN WE COME BACK,
WE'RE