Government Sponsored Enterprises

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Anthony: Hey realtor friends, are you looking at existing inventory? I had mentioned this last week when I talked to you guys on Wednesday, and I also wanted to give you an update about this week. First, let me talk about what we have coming up this week. Tomorrow, on the Lamacchia Realty Facebook page, for those of you that are interested in hearing a market update, I’m going to be going over a bunch of statistics, homes listed, homes pending, homes under contract, showing activity on properties. I’m going to be going over all that sort of thing, talking about what I see for the market, sold statistics, like the normal update that I do every single Monday at 3 o’clock, on the Lamacchia Realty page.

Now in addition to that, I will be back to you guys all here on Wednesday at 11:00 AM, when I go over my weekly update with you all, a little bit of a market update. I’m also going to tell you something that I am concerned about. You all need to be aware, we have talked a bit about mortgage forbearances and how some of the banks and some of the GSEs, the CARES Act, they came out talking a big game that they were going to make it easy on people, if they needed to, to not pay their mortgage for three months. Well, one of the GSEs had predicted one million people would ask for a forbearance. There were up to three million by what I see in the system. There’s an argument going on right now between servicers and GSEs, and I know that’s deep and I’m going to get into it all on Wednesday. It concerns me.

I want to tell you something I’ve been hearing. There’s a handful of realtors that I’ve talked about how they are stocking existing inventory, homes that have been on a month, two months, three, four weeks, better than everyone willing to buy, very few of them are. Guess what? Some of them are because some sellers just want to sell their darn home right now and not have a ton of people in it because of COVID-19. If you’re an agent, don’t disregard existing things that’s active in a town, not just new stuff that’s coming up. I’ll get into that more on Wednesday. I’ll break it down at that time.

Then, tomorrow, like I said, and I don’t normally push people to the Lamacchia page, but this is an unprecedented set of circumstances. I know that realtors have been really loving the weekly reviews that I’ve been doing. I’ve been doing 4,000 views on the Lamacchia Realty Facebook page from last week’s video on Monday. I’ll see you this week. A couple of things I’ll be going over tomorrow at 03:00 and Wednesday at 11:00. Thanks guys. Have a good day. Enjoy your Sunday.