Until they get an official response from the governor regarding their pending waiver request, the industry is taking the position that closings are an essential service and the wheels of finance must keep turning.

Overall, things are going much better than I had thought they would.Here’s the official MLS stats for 11 counties.Active listings are down -8%There’s been a good influx of new listingsHowever, there’s a lot more withdrawn than normalClosed sales count is down a bitNet, with somewhat fewer buyers, the supply / demand balance probably hasn’t materially changedHomes – 11%; Condos -2%Closed units down -5%This is less of a slowdown than I expected; great new hereAverage price and median price up 8% from prior yearThis ties to the supply / demand balance not changing much; e.g., in the seller’s favorDOM down a few daysAlso consistent with supply / demand being about the sameUC were down 8%This is much stronger than I had expected – great newsHomes -4%; condos -16%This is consistent with my observations about a week ago that entry level buyers seemed to be more cautious than the first time move up segmentNot much change on discountsIf you just look at the luxury homes (MLS defines this as >$1,000,000)Closed count +13%Price +1.5%DOM down -2 daysI am not sure this strength with last in the luxury market, since inventories are building.If you look at entry level, $300-500KClosed count -13%Price +2%DOM +4 daysThe slowdown in this segment will last a few months, since we need to get a lot of entry level employees back to work.Other news items:Most of the iBuyers have suspended operations.Lenders are tightening credit requirements, which may push the marginal buyer (that used to barely qualify) out of the market for a whileThis will likely be a source for 2020 having somewhat fewer closed deals than 2019

Bonnie Henry.We are listening very closely whenever the governing officials mention the words: “Landlord”, “Tenant”, “Mortgage” or “Rent”.Just like the virus, none of us are immune to the financial implications of our present and future.But for Today, March 24, 2020, we are going to assume that you can pay your rent for April 1, 2020.We hope that you are paying attention to all government subsidies that are available.Currently, there are no subsidies offered to Mortgage holders or tenants directly*.

How feasible is it to apply for a FHA loan when we haven't officially started work, and haven't graduated yet? 

Market Inventory (How many houses are officially listed for sale, and how long would it take to sell these at current pace. 

Finally closingAfter multiple appraisals and going back and forth with FHA underwriting, the property was officially classified as a duplex, and because I had a non-occupying co-borrower, that took my required down payment from 3.5% to 25%!

Perhaps our government officials whose paychecks are guaranteed might consider that some hard working people right here in the good ol' USA might want to take small risks to stay afloat financially.Gary 

Hey folks,I'm officially taking my money out of the short term rental/Airbnb markets and 'dumping' it all into the toilet paper industry.With the massive shortages that are likely to take place in the coming months I see a great opportunity to capitalize on the increased demand.

Hey I just got approved for my Heloc and am ready to invest in my first official rental property.

If they don't have savings, in upcoming situations like this, they will get into trouble.You can tell them that because this won't be an official application, they can wipe off any kind of identification info like SS#s.