These pending expenses can mean some serious risks long term.Let me know if you have any additional questions!

also for some clarification, are you saying get an offer in so that the property is 'pending' and then trying to negotiate with the seller a (real) price that works?

This is because of the next language from USPAP, the Uniform Standards of the Professional Appraisal Practice, which all licensed appraisers performing mortgage appraisals must follow:Standards Rule 1-5When the value opinion to be developed is market value, an appraiser must, if such information is available tothe appraiser in the normal course of business:(a) analyze all agreements of sale, options, and listings of the subject property current as of the effectivedate of the appraisal; and(b) analyze all sales of the subject property that occurred within the three (3) years prior to the effective dateof the appraisal.Comment: See the Comments to Standards Rules 2-2(a)(viii) and 2-2(b)(viii) for corresponding reportingrequirements relating to the availability and relevance of information.USPAP requires the appraiser to "analyze" any current agreement of sale (a pending WB-11 for instance) during the development of the valuation (called the Appraisal in USPAP, different from the Appraisal Report).

Keep an eye on interest rates, inventory levels, days on market, pending sales, canceled sales and list price to close price ratios.

If you pull showing stats out of ShowingTime, our numbers are way off versus the previous 2 weeks YoY.2019:https://www.screencast.com/t/y...2020:https://www.screencast.com/t/e...I suppose that won't necessarily mean that pending deals will be down in the coming 30-45 days...

There are so many deals pending right now that will fall apart due to changing loan programs that you will be well positioned to capitalize on them.

Months supply = the inventory of homes for sale (at the end of a given month) divided by the average monthly pending sales from the last 12 months.Case-Schiller index for Boston is up 4.5%, slightly outpacing the national rate of 3.9%.

What you do is you make sure you keep most or some (pending your life situation) in a bank account so that you can then reinvest that saved money plus the appreciation of the property plus the equity you continue to gain into a new property.

Pending sales are strong, contracts aren't being canceled in any significant numbers and purchase mortgage applications are strong. 

Should he wait on this until after he buys the property (pending if he can get a mortgage) or until after coronavirus?