Ladies, it is homebuying season! Well...is it? Currently, housing prices are stagnant and have even increased in some cases, considering we're all sitting in the face of a potential economic shutdown in the midst of a global pandemic. And on the upswing, interest rates are near all-time lows—with potential to go even lower.
But unfortunately, employment, which has been a roller coaster since March, remains a big question mark. And according to researchers, with thousands of housing inventory being withdrawn from the market during the shutdown, prices may soar, lowering affordability.
So, should you buy a home during the COVID-19 pandemic? Should you refinance? What's the best advice for the times? To help answer a few of our biggest questions, I decided to link with a few frontline real estate agents to get the best brewed tea for the market. This is what I found out.
Karissa McRae, Serving Georgia and Maryland—Atlanta/Baltimore Areas
Courtesy of Karissa McRae
Industry Specialty: First-Time Home Buyers
Contact: info@karissamcrae.com
Instagram: @karissarealtor
Homebuying Hack:
"Your earnest money, closing date, and the due diligence period, are all pertinent in securing a deal of excellence. While there are several other factors that contribute to a successful accepted contract, these are components buyers should consider during negotiations."
I appreciate my clients greatly, which is why I ensure that I'm on top of trends, news, updates, etc. to be able to provide them with the best advising possible. The more I've become seasoned in the industry, the more I've learned that knowledge of this game. This industry has a lot of to do with managing application of knowledge when appropriate. On the surface of things, selling a house appears to be as simple as selling a product. However, I am not in the business of just selling a home. I am in the business of navigating, assisting and driving results. The more knowledge you have to drive those results, the better chances you have of closing the deal.
Ask your realtor thousands of questions, and make sure that they are providing insight as well.
During this COVID-19 crisis, there are many advantages and disadvantages of purchasing a home. For one, there are lower interest rates. Also, when sourcing income, stimulus checks can be used toward the purchase of a home. Disadvantages? Uncertainty. We're not sure how long interest rates will remain what they currently reflect and the manner in which many homes can be shown. Some homes require virtual showings only until the home is under contract. This may be a disadvantage if the buyer is eager to view the home physically within a specific period of time.
My top three pandemic real estate tips:
- If you love it, put an offer in. While you want to ensure you are completely comfortable and love the home, you also want to ensure you are getting your offer in within a timely manner.
- Ensure your offers are strong. Making sure you have a strong offer can mean the difference between the seller selecting yours vs. another buyer. A strong offer can include, but isn’t limited to, the closing date, sellers concessions, financing type, etc. You should consult with a licensed Realtor regarding which.
- Ensure you are protected with contingencies. There are contingencies that can be written in the contract to protect you due to unexpected losses during this pandemic. Consult with a licensed Realtor regarding contingencies such as an appraisal, financing and COVID-19 contingency during this time.
For my current homeowners, the question remains: should you refinance? Yes. It's a great time to refinance now due to lower interest rates. However, a common misconception is that refinancing does not cost. Refinancing can cost about 2%-6% of the loan amount. Either way, now is your time. So, go for it!
Leann Henri, Serving Michigan—Detroit, Southeastern Region
Industry Specialty: First-Time Home Buyers, Selling and Relocating, Millennial Buyers and Sellers
Contact: leann@wearedobi.com
Instagram: @leann_henri
Home Buying Hack:
"Find a down payment assistance program—there are so many available! Some of them are even grants that you don't have to pay back. If you don't have to use your own money to buy a home, why would you?"
It's no secret we're in a pretty substantial housing shortage in the US. Couple that with a global pandemic and you've got a recipe that spells complete and utter frustration for eager buyers to find homes. A major disadvantage is the competition between buyers for existing homes currently listed on the market. I submitted an offer on a home last week and the agent told me they have 22 other offers! EX-CUSE ME?!
Not to mention, some of these agents are reckless in advising buyers to waive inspections, put in outrageous appraisal guarantees, and submitting offers thousands upon thousands of dollars over asking. Many people can't compete with that, and honestly I would never advise my clients to do such a thing. The right home will come along and I always tell them, "What's for you will not pass you by." On the cloud-covered bright side (I say "cloud-covered" because these low rates are largely fueled by the pandemic), there are still fears of new coronavirus outbreaks affecting the economy, meaning rates will probably stay low for quite some time to incentivize buyers and sellers to make a move.
And that's always a good thing.
If you are looking to refinance, absolutely do so! Rates are at record lows right now. Money is so cheap, it's basically free. Why pay "them" more money to borrow their money than what you have to? Oftentimes people sign a mortgage and don't look at the details again until they're planning to sell, which is terrible! Usually a person's financial status when they first bought their home, changes over time. You could qualify for many more perks, the key is to just ask. Even if you refinance and only save an additional $150/month on your mortgage - that's $150 extra dollars a month to go towards another bill, savings, investments, or put it right back on your principal mortgage balance to pay down your loan faster and save in interest over time.
The goal is to pay them back as quickly and efficiently as possible so you can start building wealth. Of course, I always strongly suggest consulting with a qualified mortgage lender about the pros and cons of refinancing for your particular situation.
For those interested in a COVID-19's buyer market, here are my immediate tips:
- Analyze your finances. If you can't afford it, don't force it.
- Stay encouraged. It's a jungle with low inventory and high competition.
- Don't pick a random Realtor. Interview as many as you need to find one that you trust and that truly has your best interest at heart.
Since the start of the pandemic, what I've always believed about real estate has been cemented. Good morals, staying ahead of the curve, and real authentic interactions will always win. My business has grown so much during this pandemic and every time I ask a client why they chose me, the answers are always along the same lines: they felt well-informed from the very beginning, my social media or my YouTube channel made them feel like they could relate to me, and I actually ANSWERED THE PHONE! People let chasing a dollar get in the way of really truly caring for your neighbor and I believe that will separate the successes from the one-hit wonders.
Claudia Garcia, Serving Illinois—Chicagoland
Courtesy of Claudia Garcia
Industry Specialty: First-Time Home Buyers, Buyers, Sellers, and Leasing
Contact: cgarcia@propertyconsultants.com
Instagram: @claudiasellschicago
Homeowner Hack:
"Make biweekly mortgage payments to pay off your mortgage quicker. You're basically breaking down your monthly mortgage in half every two weeks, (there are 26 biweekly periods in a year) which has the equivalence of making one extra monthly mortgage payment every year."
Ladies, buying a home is definitely one of the biggest financial decisions you will ever make! COVID-19 may have put some strains on us, but what better time than now to begin preparing ourselves? A lot of individuals assume that they can't purchase a home considering the times, but they haven't taken the initiative to actually see if that's the case; there actually isn't a better time than now to purchase.
While some mortgage companies may have tightened up their requirements, interest rates have been dropping. And people whom are already homeowners that are locked in at higher rates have—and should have—been looking into refinancing that the low interest rates institutions are offering (rates have recently dropped below 3%).
Agents are noticing that many people believed that the market was going to crash, but this totally hasn't been the case at all (thus far). Yes, new home listings decreased in late March, at peak hysteria of COVID-19, but listings have started to pick up in late June, early July. Just know that we are in a buyer's market right now: there are more buyers looking to purchase homes than homes listed on the market, which in turn, has created a multiple-offer scenario for certain properties/sellers (and creates disadvantages for some buyers).
My top homebuying tips are:
- Talk to a loan officer first. People automatically think or assume they are not qualified to purchase a home, for whatever reason, but they have never actually talked to a loan officer to see what exactly it is that they need to prepare themselves for purchasing a home.
- Save every dollar that you can right now. Why else wouldn't you be saving during quarantine? Create a budget, cut costs, and spend less, so that you're prepared for closing time, as well as just establishing rainy day funds.
- Educate yourself as much as you can about the homebuying process. And then find and work with an experienced and trustworthy realtor.
Real estate is a continuous changing market, and a never-ending learning career. I've even taken advantage of this time to learn and educate myself even more in the field by enrolling in different certifications and designations so that I can provide the best experience I can for my clients.
And for all my homeowners, I hope you're researching the best options for your possible purchasing/selling journey as well. It's a great time to do so, so why not?
Marly Walters, Serving Florida—Southern Region
Courtesy of Marly Waters
Industry Specialty: First-Time Home Buyers, Buyers, Sellers, and Leasing
Contact: marlywalters@themarlygroup.com
Instagram: @marlyrealestate
Homebuying Hack:
"During the inspection period, you can ask the seller to make additional repairs, or ask for a seller credit at closing to make repairs after closing. In Florida, the high majority of offers use the approved AS IS with the right to inspect standard contract. So, even though you are purchasing the property as is, you can use the inspection as a second chance to negotiate the sales price or credits."
I had a client once that got very sick only a year after I helped him purchase his dream home. Even though I offer many listing services that other agents don't offer, typically getting the home cleaned and show-ready, meeting with multiple contractors for repair bids, and arranging storage and movers, are the responsibility of the seller. However, he did not have any local family and I knew he was not going to be physically able to handle any of these tasks so I made sure that I personally took them on. I was able to sell the home over list price and net him enough so that he still had funds to downsize and purchase a new property. For me, that's what being a realtor is all about.
As we've already mentioned, the biggest advantage in our industry during the pandemic is that interest rates are at historic lows.
So, the same home you could not afford a year ago, you might be approved to purchase today because a lower interest rate increases your monthly affordability amount. This also means that in a lot of markets, it's a hot seller's season. There's a home inventory shortage, meaning that for the smaller number of available homes, there is more competition, increasing the likelihood of you running into a multiple-offer situation, and ultimately driving up sales prices.
My three tips are these:
- Look for homes that have been on the market for 60+ days if you are looking for a deal.
- Be comfortable with going virtual (virtual property tours, electronically signing documents, etc.).
- Work with an experienced buyer's agent that will know how to negotiate well on your behalf and can save you from the pitfalls of a transaction.
I used to think that you had to have your hands in a lot of different lead generation pots in order to be successful in this business. However, as I grow in the business, I now understand that focusing on a few things, doing them very well, and putting the attention on building long-term relationships with clients is more important than building a big volume of leads.
When you are laser-focused on your strengths and your clients, the success will come.
Feature image courtesy of Leann Henri
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Credit: Malcolm Roberson
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Featured image by Malcolm Roberson
Meanwhile, frankincense and myrrh originate from the Middle East and Africa (you know, like the Bible does — some folks need to be reminded of that—eh hem — Trumpers) and ginger? It too helps with indigestion (which can definitely creep up at Thanksgiving and Christmas dinner tables); plus, it’s a key ingredient for ginger snaps and gingerbread houses. So, as you can see, holiday-themed scents have a rhyme and reason to them.
Tying this all in together — several years ago, I penned an article for the platform entitled, “Are You Ready To Have Some Very Merry ‘Christmas Sex’?” Well, in the spirit of revisiting some of that content, with a bit of a twist, I decided to broach some traditional holiday scents from the perspective of which ones will do your libido a ton of good from now through New Year’s Eve (check out “Make This Your Best NYE. For Sex. EVER.”).
Are you ready to check some of them out, so that, whether it’s via a candle, a diffuser, some essential oil, or some DIY body cream (check out “How To Incorporate All Five Senses To Have The Best Sex Ever”), you can bring some extra festive ambiance into your own boudoir? Excellent.
1. Vanilla
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When it comes to holiday desserts, you’re going to be hard-pressed to find recipes that don’t include vanilla — and that alone explains why it is considered to be a traditional holiday scent. As far as your libido goes, vanilla is absolutely considered to be an aphrodisiac — partly because its sweet scent is considered to be very sensual. Some studies even reveal that vanillin (the active ingredient in vanilla) is able to increase sexual arousal and improve erectile dysfunction in men. So, if you adore the smell, here is more incentive to use it.
2. Frankincense
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Although, typically, when people think about frankincense (and myrrh), it’s in the context of the gifts that the wise men brought Christ after he was born; it’s a part of the biblical Christmas story. However, frankincense goes much deeper than that. Sexually, since it has an earthy and spicy scent, some people like to use it to meditate (check out “What Exactly Is 'Orgasmic Meditation'?”). Also, since it has the ability to put you in a better mood, soothe and soften your skin and maintain your oral health — with the help of frankincense, every touch and kiss can be that much…sexier.
3. Cinnamon
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I already gave cinnamon a shout-out in the intro. Personally, I’ve been a fan of it, in the sex department, for a long time now (check out “12 ‘Sex Condiments’ That Can Make Coitus Even More...Delicious”). When it’s in oil form, it can be very sweet to the taste while sending a warm sensation throughout the body — which is why the giver and receiver of oral sex can benefit from its usage. Beyond that, cinnamon helps to increase blood flow to your genital region, elevate sexual desire and, some studies say that it can even help improve fertility. Beautiful.
4. Peppermint
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If there’s a signature candy for the holiday season, it’s probably a candy cane — which automatically puts peppermint in the running for being an official holiday scent. Pretty much, in any form, it’s got your sex life’s back because it’s hailed as being a sexual stimulant; in part, because its smell is so invigorating. Plus, it helps to (eh hem) ease headaches, it gives you more energy and it can definitely help to freshen your breath. Also, that minty sensation? The same thing that I said about cinnamon can apply to peppermint too (if you catch my drift).
5. Ginger
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Whether it’s in a meal or in your bedroom, ginger is going to produce results that are hella spicy. On the sex tip, science has praised ginger for being able to increase sexual arousal, improve blood circulation (which intensifies orgasms) and strengthen fertility for many years. Scent-wise, I find it to be one that both men and women enjoy because it is both woodsy and sweet. So, if you’ve got some massage oil in mind, adding some ginger is a way to please you both.
6. Pomegranate
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September through December is the time of year when pomegranates are considered to be in season. And, as someone who is a Rosh Hashanah observer, I have a personal adoration for them because I am aware of the various things that they symbolize in Hebrew culture including the fact that they are a fruit that represents love and fertility. So yeah, they would absolutely be an aphrodisiac — one that is perfect for this time of the year. While consuming it helps to boost testosterone levels in both men and women, the floral bittersweet smell that it produces can help to reduce stress while promoting relaxation (like most floral scents do) — and the more relaxed you are, the easier it is to climax.
7. Nutmeg
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Another signature seasoning during the holiday season is nutmeg. It’s perfect in Thanksgiving sweet potato (or pumpkin) pie and Christmas morning French toast. And yes, it can also make your sex life better. If you consume it, it can intensify your libido and, overall, its warm-meets-spicy-meets-sweet smell is so inviting that it is considered to be a pretty seductive scent.
8. Cloves
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I ain’t got not one lie to tell you — if you’ve got a toothache, put some clove oil on that bad boy and send me a Christmas present for putting you on game. Aside from that, as I round all of this out, cloves are another holiday scent that can do wonders for your sex life. For men, it has the ability to significantly increase sexual arousal and improve stamina and endurance. For men and women alike, it also has a reputation for strengthening sexual desire. And for women solely? Well, if you want an all-natural way to increase natural lubrication down below — the scent and and feel (in DILUTED oil form) can make that happen. It can make the holidays especially special…if you know what I mean.
Ah yes — the atmosphere of the holidays and what it can do.
Take it all in! Scent ‘n whatever stimulating that comes with it! #wink
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