Like Dorothy in the Wizard of Oz, it feels like we landed somewhere else over the last year…
Some experienced the bleak landscape of Dorothy’s dusty Kansas through the global pandemic. Yet at the same time, the COVID twister introduced homeowners and investors to a whole new magical world…
Following the yellow brick road took us on a journey to find mortgage rates, the lowest we’ve ever seen.
Houses selling for top dollar in the blink of an eye.
A feeding frenzy of purchases for second homes, condos and investment properties.
Refinances at historically low rates. Renovating our homes and backyards.
There’s No Place Like Home
Dorothy knew that her time in Oz wouldn’t last forever, and we’re seeing similar signs in the industry today. In fact, we’re almost to the spot where the Wizard hands out awards congratulating us on what we’ve learned.
If the Wizard were handing us something from his black bag, it would be a pre-approval letter emblazoned with the phrase “Be Prepared”.
You can’t be taken seriously in today’s market without being pre-approved first. And, given the recent shifts in mortgage products available, smart buyers evaluate all their lending options before starting the process.
And if I have any advice for you as the local Wizard of Mortgages, I’d say this:
The real estate world is all about shifts. When things go too far in one direction, markets correct themselves. We’ve seen this over and over for the 25+ years we’ve been in business.
Market conditions over the last year were the best they’ve ever been. And while we’re still in Oz taking in all its wonder, if you’re even thinking about buying or selling, don’t wait.
None of us knows for sure when the balloon will leave for Kansas.