It may seem a bit premature to talk to you about buying and selling during the holiday season, but let's face it! If you are going to uproot your life whether it be PCS, ETS, or simply just buying and selling a new home, the holidays are riddled with challenges and also benefits. This year also brings added levels of challenge. COVID had delayed close to 30,000 military moves, upsetting and disrupting the entire military moving industry. Many families found themselves in limbo due to goods being picked up, their homes already being sold, and then being told they couldn't move. These families now find themselves transitioning and looking for new homes. Other Veterans simply waited to see what the market was going to do before making a decision to buy or sell. Couple these factors with record low VA Loan interest rates, an election year, and already low levels of inventory and we have a literal goat rope. Let's face it. This is no ordinary market and this season will not be an ordinary season.
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We have all been in that apartment. You know, the bachelor pad that has empty pizza boxes and smells like stale beer. A DVD collection of every sci-fi thriller and war movie is stacked up on the DVD tower and a tipped over seven eleven styrofoam cup is on the sticky end table next to the black pleather couch. The 86" tv takes up the entire wall and it is surrounded by a high dollar Bose surround system that allows the upstairs neighbors to feel the vibration from every explosion in The Hurt Locker. It's great! Isn't it?!
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So here we are again. I had a great weekend camping with friends and inevitably we ended up talking about real estate, the market, and buying homes. Our Fort Carson friend finally pulled the trigger this year on his first time home purchase. He had been renting for the past five years and initially was not certain if he should buy. Afterall, what about the state of the economy? What about Coronavirus, interest rates, the housing market, blah, blah, blah, blah. Guess what?! The housing market simply continues to climb. Homes get more expensive. Building materials go up. Prices rise.
Topics: PCS Military move VA Loan Housing predicitons ETS
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I can't tell you how many times in my over 20 years of real estate, I have heard a buyer tell me that they just want to wait for the market to slow down before they jump in. This crazy Covid pandemic is no different. Many thought that the market would slow to a snails pace and that we may even see prices drop, but that certainly was not the case! While the "experts" predicted a drop of 6%, we actually saw the highest price rise in a two month period since 1991.