Blog :: 02-2021

The Most Desirable Home Feature of 2020-2021?

You may have guessed a bigger, more updated kitchen or a pool. I was a bit surprised myself. I knew a home office was our rising star due to the pandemic but I didn't think it would be at the top of the list. The top 3 most desired features tell the story of much needed interior space. Interesting. Thinking about making a move? Need more square footage? We can tell you today's market value of your current home; it's complimentary, and help you find your new home (office)! 

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Will There Be More Foreclosures in 2021?

Black Night Inc. gives us an inside look at mortgage data across the country, providing statistics on forbearance, which is an indicator of future foreclosures. What is a forbearance plan? A forbearance plan doesn’t erase the amount you owe on a mortgage, but it temporarily suspends or reduces your mortgage payment until your hardship is over. At the end of the forbearance plan, you must repay what you missed, but necessarily not all at once. Follow the track of these forbearance plans and you wind up with a lot of data.

Keeping Current Matters summarizes the data and points to the health of today's homeowner equity, downward 3-year foreclosure trend pre-pandemic, and what banks learned from their mistakes in 2008-2012 as reasons why we won't see the market flush with foreclosures despite joblessness due to the pandemic. But, will there be foreclosures in 2021? 

Yes, there will be foreclosures, but predictors say that the high demand and lack of inventory we are currently (and painfully) experiencing will be enough to absorb any increase. Trying to get your foot in the door of today's market? Find an experienced real estate professional, not just someone with a real estate license, and put them to work on your behalf; it's what we do! 

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