Join Michael Hoffman and Eric Feldman of Longhorn Investments as they discuss the real estate environment during COVID-19. Learn about property pricing during the pandemic and why your comps and appraisals may be based on pre-pandemic pricing. This is important to keep in mind when the actual price of a property may have dropped by 5-10%, but the appraisal may not reflect this drop.
Real Estate During COVID
This video discusses the quickly changing real estate market during the coronavirus crisis. A few topics that are covered are things to keep in mind when buying a property during COVID-19:
- People are buying and selling Real Estate during the COVID-19 Crisis
- Pricing and Appraisals
- Appraisals aren’t reflecting the recent pricing
- Appraisals can’t reflect what might happen in the future
- Interest Rates are Lower
- Lower Inventory may affect prices
- Possibility of 10 – 30% fewer properties for sell right now
- Some Lenders are Not Lending Right Now
- The difference between a lender & a broker
- Longhorn Investments is not reliant on 3rd Parties
- Confirm that your lender is still able to fund your transaction
This is the third in the video series, subscribe to the Longhorn Investments channel to learn more about the smart way to invest during the changing economic climate.