>>JENNIFER WAUGH: SELLING A HOUSE IN THE MIDDLE OF THE PANDEMIC HAS CREATED A HOST OF
CHALLENGES AS YOU MIGHT IMAGINE
FOR SELLERS AS WELL
AS BUYERS, MILLIONS OF PEOPLE
HAVE LOST THEIR JOBS. THE STOCK
MARKET IS YOYO DONE THE LAST 2
WEEKS ALL OF THESE FACTORS
DIRECTLY IMPACT THE REAL ESTATE
MARKET SO IS IT A BUYER’S
MARKET RIGHT NOW HOW FAST ARE
HOME SELLING. JOINING ME NOW TO
EXPLAIN WHAT HE IS SEEING
LOCALLY
DECENT RUN. HE IS THE MANAGING
BROKER AT WATSON REALTY GOOD
MORNING. THANKS FOR JOINING US.
A GOOD MORNING. JEN THANK YOU
FOR HAVING ME SO IS THIS A GOOD
TIME TO SELL MEAN IS THERE
GOOD INVENTORY.
>> WELL ABSOLUTELY IT IS A
GREAT TIME TO INVENTORIES
ACTUALLY VERY WE KIND OF A KEY
INDICATOR THAT WE LOOK AT IN
THE INDUSTRY CALL THE
ABSORPTION RATE AND IF YOU LOOK
AT THAT ABSORPTION RATE IT
BASICALLY
TELLS YOU. RATES HOW QUICKLY OR
HOW MUCH INVENTORY.
WE HAVE AT THE CURRENT TIME AND
IF YOU LOOK AT IT RIGHT NOW
WE’RE RIGHT AROUND 3.2 MONTHS
WORTH OF INVENTORY. AND REALLY
WE NEED ABOUT 6 MONTHS WORTH OF
INVENTORY.
>>JENNIFER WAUGH: CAN YOU
EXPLAIN TO OUR VIEWER AT HOME
WHAT THAT MEANS THE ABSORPTION
RATE IT’S A
LITTLE CONFUSING.
>> YEAH ABSOLUTELY SO WE NEED 6
MONTHS WORTH OF TO BASICALLY
SATISFIED THAT
THE MAN AND RIGHT NOW WE HAVE
ABOUT 3.2. SO WE HAVE A LOT
MORE BUYERS THAN WE DO
HAVE SELLERS. SO IF YOU HAVE
HOUSE THIS IS THE TIME THE
LISTED HIGH OF THE HOME VALUES
ARE GOING UP IF YOU LOOK BACK A
OVER THE LAST 12 MONTHS WE’VE
GOT UP ABOUT 8%.
SO IF YOU HAVE A HOME THIS IS A
GREAT TIME TO LIST, YEAH IT’S
INTERESTING IS RIGHT NOW ON
THIS AT ON THE SCREEN WE’RE
SHOWING THE INVENTORY AND IT
WAS LOW PREPAY ENDEMIC. BUT
THAT’S.
>> IT’S GOTTEN BETTER HAS DONE
LOOKING AT THE DATE HERE LOOKS
LIKE.
>> WELL IT’S ACTUALLY
GOTTEN LOWER. IF YOU LOOK AT IF
YOU LOOK AT THE INTO THE
INVENTORIES ACTUALLY GOTTEN
LOWER AFTER THE PANDEMIC SO WE
NEED SOME INVENTORY WE NEED TO
HAVE SOME HOUSES
FOR SALE.
>>JENNIFER WAUGH: IT’S A
CHALLENGE THOUGH I I WOULD
IMAGINE FOR PEOPLE SHOWING
THEIR HOME. THEY’RE PROBABLY
PRETTY NERVOUS ABOUT HAVING
STRANGERS WALKING AND
WALKING THROUGH GIVEN THE
CONCERNS ABOUT THE PANDEMIC
HEAVY WAY
THAT FACTOR.
>> YEAH ABSOLUTELY THIS IS
IMPORTANT WHEN YOU DO A MEET
WITH AN AGENT WHO WANT TO MAKE
SURE THAT YOU ASK AND WHAT SORT
OF A PROTOCOL
SAFETY PROTOCOLS ARE THEY
FOLLOWING OTHER FOLLOWING THE
CDC CDC RULES
I’M THEY HAVE THE RIGHT TO BE
ABLE TO PROTECT YOU AND YOUR
FAMILY.
>>JENNIFER WAUGH: ASKING A LOT
OF QUESTIONS I THINK
IS IMPORTANT OUR HOME VALUES
HOLDING I MEAN OUR SELLERS
GETTING WHAT THEY WANT FOR
THOSE WHO ARE PUTTING THEM ON
THE MARKET.
>> YET IN THE CURRENT MARKET
BECAUSE WE HAVE AT THE MAN AND
IT’S ALL ABOUT THE SUPPLY AND
DEMAND A PRINCIPAL’S RIGHT.
SO WE HAVE A LOT OF DEMAND AND
NOT ENOUGH
INVENTORY. SO YOU KNOW HAVE
MULTIPLE OFFERS A LOT OF THE
TIMES AND THE HOMES ARE SELLING
REALLY REALLY FAST IF YOU LOOK
A YEAR AGO
THE AVERAGE STAYS IN THE MARKET
YOU WOULD BE LOOKING AT ABOUT
50 DAYS ON THE MARKET WORK IN
TODAY’S YOU’RE UNDER 30 DAYS.
>>JENNIFER WAUGH: AND HAVE THE
LOW INTEREST RATES KIND OF HELP
BOOST SALES
AS WELL.
>> ABSOLUTELY THAT WHICH IS
WHAT’S MAKING THIS KIND OF AN
INTERESTING UNUSUAL MARKET
BECAUSE YOU HAVE A LITTLE BIT
OF A SELLER’S MARKET WE JUST
TALKED ABOUT THAT, BUT AT THE
SAME TIME WE HAVE A BUYER’S
MARKET DUE TO THE LOW INTEREST
RATES IT IS THE TIME TO BUY
A HOME AND JUST TO GIVE AN
EXAMPLE OF ONE PERCENT
DIFFERENCE IN THE RATE MEANING
GOING FROM 4%
3%. COULD MEAN ANYWHERE BETWEEN
25 TO
35,000 EXTRA DOLLARS.
>>JENNIFER WAUGH: THAT A BUYER
COME BY SO IT’S A LOT OF BUYING
POWER THAT A LOT OF MONEY SO
QUICKLY AT YOUR SUGGESTION TO
SELLERS FIRST AND THEN
TO BUYERS.
>> I WOULD SAY FIRST AND
FOREMOST CONTACT AN AGENT THAT
WOULD BE THE FIRST THING
SECONDLY ASKED THE AGENT IF
YOUR CELLAR. HOW YOU CAN
PROTECT ME AND MY FAMILY WAS
SORT GARLAND SO YOU’RE
FOLLOWING SAFETY PROTOCOLS ARE
YOU FOLLOWING. DO YOU HAVE
VIRTUAL TOURING
3 D TOURS. ONLINE WHERE BUYERS
CAN YOU KNOW FROM THE COMFORT
OF THEIR HOME CAN VIEW YOUR
HOME THAT WOULD BE VERY
IMPORTANT AND THEN BE PREPARED
BE PREPARED TO HAVE MULTIPLE
OFFERS AND SELL QUICKLY.
IF YOU’RE A BUYER WITH 10 ALSO
CONTACT AN AGENT AND SAYS THIS
WILL BE REALLY IMPORTANT GET
YOURSELF PREQUALIFIED BEFORE
GOING SHOPPING THE LAST THING
YOU WANT TO DO. IT’S GO
SHOPPING FIND THE DREAM HOME
AND THEN HAVE TO GO BACK TO GET
YOURSELF PREQUALIFIED AND FIND OUT YOU CAN QUALIFY FOR THAT PARTICULAR HOME OR FIND OUT AND
THIS IS THIS HAPPENS ALL THE
TIME GO BACK YOU FIND OUT THAT
THE HOMES ALREADY ON THE
CONTRACT.
>> RIGHT YOU’VE LOST THE SALE
BECAUSE SHE DIDN’T PRE QUALIFY
AHEAD OF TIME. THEY HAD THE