Housing market trends during COVID-19

Loan-to-Value Ratio 101

Living in today’s world is somewhat like swimming in rough, unknown waters for the first time. As COVID-19 continues to plague our nation, and the world, Americans are seeking to stay afloat amid a constant cycle of unfamiliar and shifting tides. As the economy has left many people feeling as if they are simply treading water and focused simply on not drowning in this economic downturn, this aggressive virus has dramatically changed the way people are living and spending.

As for the housing market, it is not immune to the virus’ effects on our economy. Following a dip in home prices back in the beginning of March – when the pandemic was first making its debut – the housing industry is now seeing a rise in home prices.

Experts attribute this uptick in home prices mostly due to record-low mortgage rates now available for hopeful homebuyers, as well as the extremely low amount of available homes for purchase currently on the market. Just this past week, Freddie Mac reported a historical low 30-year mortgage rate of just below 3% with rates expected to continue a downward trend.

This is all great news for homeowners looking to sell. The housing market is ripe and ready, placing you in a perfect position to reap the benefits of intense bidding wars among buyers vying for your property, as well as near-instant sales once you are satisfied with an offer.

Even greater news for homeowners looking to sell – DomiDocs can help you crush those bidding wars by allowing you access to its unique and user-friendly platform to make sure you have all your documents in order.

In this way, DomiDocs eliminates all hassle and stress associated with homeownership and the multitude of tasks and paperwork that accumulates over the years. In terms of the organization of documents required to sell a home, this trusted institution this trusted institution’s expert software and user-friendly platform allows collection of all vital data needed to sell your home and automatic gathering of all pertinent information needed for a potential buyer to be located in one convenient location on the platform (known as the DomiDocs Seller’s Bundle).

Not only does this simplify the struggle of keeping track of all of the details related to your home details, construction, maintenance, and project information, but it also provides intuitive, personalized information through its artificial intelligence and home valuation using various tools and data to give homeowners the most accurate home value seen in today’s market! You can feel confident placing your property on the market, knowing that no detail has slid through the cracks. This also allows you to effortlessly share all of this information with hopeful buyers who are ready to present an offer. Let’s face it; you want to make purchasing your home as hassle-free as possible, especially when the competition on the market is as fierce as it is today.

As many of you also know, homeowners must abide by the government’s official Consumer Protection Regulations (CPRs) as they proceed in listing homes. These regulations include full disclosure of what is known as sellers’ information. Still, it essentially means not providing false information or giving an overall presentation that deceives or is likely to mislead the consumer, even if the information is factually correct. DomiDocs has you covered in this area as well.

If you are like most homeowners, your to-do list is already endless when preparing to market your home. Add to that the mounting must-dos and should-dos that are now emerging on the scene related to COVID-19 (wash hands, find a new job, rework your budget, new restrictions, childcare and schooling dilemmas), the sense of overwhelm may feel all-consuming at times.

While DomiDocs can’t control the changing tides of the economy or market, nor the direction that the winds shifts during the storm that is COVID-19,—we can ensure that you feel supported and are safely covered as you navigate the sometimes murky waters of the housing market while selling your home. 

The time is now for homeowners to jump in and DomiDocs pledges to be right there with you and dedicated to getting you the real estate outcome you desire, while also protecting your most vital asset.