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Poll

What is the prediction for the corona virus on the housing market?

Little to no effect
1 (16.7%)
an increase in foreclosures
4 (66.7%)
an increase in demand due to low interest rates
1 (16.7%)
foreign investors pull out of the market
0 (0%)

Total Members Voted: 6

Author Topic: corona virus woes  (Read 406 times)

Offline webuycalifornia

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  • Posts: 17
    • we buy houses in California
corona virus woes
« on: March 19, 2020, 01:14:14 am »
 :biggrin :biggrin :biggrin
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Offline hmarquez

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  • Posts: 25
    • We buy houses Houston site
Re: corona virus woes
« Reply #1 on: April 01, 2020, 07:32:48 pm »
I expect more foreclosures and a slowdown from traditional end buyers while unemployment is high. Hopefully unemployment rebounds fast.
Humberto Marquez
Good Neighbor Home Buyers
https://www.soldtogoodneighbor.com

Offline CharlottePlayer

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  • Posts: 337
    • We Buy Houses in charlotte
Re: corona virus woes
« Reply #2 on: April 21, 2020, 06:21:40 pm »
I don't think the coronavirus will have much affect on the foreclosure rate.  At least at my county courthouse foreclosures and evictions have been frozen.  Also the banks I believe have to do forebearances or loan modifications of some sort.  Americans aren't working especially with at 8 million filing for unemployment.  There's supposed to be tax credits and funding to lenders to place back payments to the back of the loan.  So if anything, as long as the country is on lockdown, homeowners behind on payments as a result of the lockdown are home free.  Homeowners in trouble before depending on where they were in the process might be home free until the lockdown ends and it will be back to business.

This is my opinion so don't hold me on this. 
If you have a burning desire to enter the real estate industry go to Free Rea Estate Bird Dog Training.  Be sure to check your email after you sign up.

Offline Alex Capp

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  • Posts: 66
    • Brotherly Love Real Estate
Re: corona virus woes
« Reply #3 on: April 22, 2020, 06:50:16 pm »
I'm worried about foreclosures long term, not in the next few weeks though. Tough to say. If the virus comes back during the Fall, then more long term affects may appear. Anyone selling a crystal ball i can borrow?  :flush
Brotherly Love Real Estate
We Buy Houses in Philadelphia. BLRE was started by two childhood friends with a dream of flipping houses!

 




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