Will the future of remote work dictate the fundamentals of our real estate climate and produce a future dip? Or a cataclysmic crash?

Are people being over-optimistic about the demand for suburbia; will it last indefinitely?

What affects a home's fundamental value? 

Average home prices in America are the highest they have ever been and here in Boston, a so-called "superstar city", on par with San Francisco, Seattle and San Diego, demand is still high and supply is low. It's a fantastic time to sell! ...

There's a lot of speculation about the answers to these quesitons. Here's a look at "The 2000s Housing Cycle With 2020 Hindsight" and an informative story by Greg Rosalsky of Planet Money on home prices and housing bubbles.

Have you seen Netflix's new show yet? "Marriage or Mortgage"? Being in the biz, we love the concept! No surprise that millennials lean towards putting off buying a home, which is especially understandable in the current market. The really interesting component of the show is for the guests who choose mortgage, the negotiating powers of an experienced real estate professional are on full display. The entire industry is cheering because for every seasoned full-time pro, there's someone out there with a newly acquired real estate license who just came on the scene. These are the moments that put us to the test! We thrive in these familiar waters! Going to bat for our clients is what we've been doing for years. It takes experience to work your way around 33 offers in bidding war, whether you are representing the buyer or the seller! It's a skill set that ends up being priceless... for both buyers and sellers. In my 30+ years, this is the riskiest market for a FSBO (for-sale-by-owner) and for unrepresented buyers. Thank you NAR for pointing out Marriage or Mortgage and the critical role of real estate professionals!  And I quote, "Find yourself a good agent that you trust - a good negotiator, find an agent who has lots of experience." We agree! 

Thank you for the 'pandemic poetry' Elena Cox, in your well-written article for realtor.com! Our local real estate market has definitely been rocked by Covid-19, as you say, and your story rings true here on the northshore of Boston, MA. 

My favorite line: "Frenzied, take-no prisoners bidding wars might even quiet down into mere skirmishes." Our team of well-seasoned REALTOR professionals wholeheartedly hopes that will come to fruition, soon, really soon!

Despite the hardships these conditions have manifested, real estate, or what we call "HOME", has always been the centerpiece of our lives. We are proud to have been considered essential since the beginning of the pandemic; we are. 

Read Elena's full article here: How the U.S. Housing Market Was Rocked by COVID-19—and Where We Go From Here.

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)! 

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! 

"The Pending Home Sales Index (PHSI),* www.nar.realtor/pending-home-sales, a forward-looking indicator of home sales based on contract signings, rose 44.3% to 99.6 in May, chronicling the highest month-over-month gain in the index since NAR started this series in January 2001. " Read the full article from the National Association of Realtors®. 

It's been an incredibly busy May/June! Our team of Windhill advisors is available for your real estate needs 978-356-8922.