Some Segment Of Home Buyers Will Not Be Able To Buy For A Time


Some Segment Of Home Buyers Will Not Be Able To Buy For A Time
By Scott Rogers • March 31, 2020
Unless you are paying cash for your next home, you'll need to be able to show your mortgage company that you have a steady source of income with which you'll be able to make your mortgage payments. That source of income is usually going to be from your job. Some jobs are more interrupted by COVID-19 than other jobs. Plenty of would-be home buyers are still working, perhaps from home, perhaps online, or perhaps their job is one that requires them to keep reporting to their place of employment. Some would-be buyers are having their hours scaled back, or are seeing their income decline, based on changes in business operations. So, BUYERS should keep in mind that if your income is (or is likely to become) interrupted by COVID-19 developments, then we may want to press the pause button on the home search just for a moment. And SELLERS should keep in mind that there may be somewhat fewer buyers in the market to buy your home if their income has been (or might be) interrupted by COVID-19 developments. Thus far, it doesn't seem that we're going to see most buyers not being able to buy homes because their income is being affected -- but we are likely to see at least somewhat of a decline in buyer activity. Receive Updates by Email Recent Articles: There Are Plenty Of Types Of Houses That Exist That Just Are Not Available To Purchase Home Sales By Price Range In The City Of Harrisonburg Are You Compromising On Aspects Of Your Next Home That You Can Or Cannot Change Later? How Much Slower Are The Winter Months In Our Local Housing Market? Rockingham County and New Home Sales Drive Surge in Area Housing Market Find The Balance Between Optimistic And Realistic Home Pricing Room Size Is Difficult To Understand Solely From Real Estate Photos How Much Would You Value Not Having To Prepare Your Home For Showings? One Out Of Four Homes Is Taking Longer Than A Month To Sell Consider The Cost Of Your Planned Renovations When Planning Your Offer
Have any questions? Contact Scott Rogers at 540-578-0102 or scott@funkhousergroup.com
Based on information from the Harrisonburg-Rockingham Association of REALTORS® or its MLS, for the period Jan 1, 2000 through Nov 21, 2024 (unless otherwise noted).
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