Libby real estate news
January through March 2020
by Alice Hayes, Team Hayes Realtors LLC
April 20, 2020
How has the Libby, Troy, & Yaak Market Been in 2020??
January 1, 2020 to March 31, 2020 Real Estate Figures:
SALES
32 Residential SALES: 21 Libby; 10 Troy; 1 Yaak
9 Land SALES: 7 Libby; 2 Troy; 0 Yaak
0 Commercial/Multi-Family SALES
PENDING
23 Residential PENDING: 12 Libby; 6 Troy
8 Land PENDING: 3 Libby; 1 Troy; 2 Yaak
2 Commercial/Multi-Family PENDING
ACTIVES
80 Residential ACTIVES: 39 Libby; 35 Troy; 6 Yaak
150 Land ACTIVES: 80 in Libby; 61 in Troy; 9 in Yaak
21 Comm/Multi-Fam ACTIVES: 14 Libby; 4 Troy; 3 Yaak
2020 started as a very busy year. And then COVID-19 hit and we are having very limited physical contact with clients and the majority of our work is being done from home. Due to the wonders of technology - much of our Client Care can be done on-line and by phone. But, we miss the human contact and anxiously await the return of the opportunity to sit down with our friends and clients and visit, laugh, shake hands, and even hug.
Interest Rates are Truly Amazing!
Now could be a great time to purchase.
As of 3/31/202 - Conforming & FHA Loans:
Per Quicken 30-Year Fixed:
Interest = 2.99%; APR = 3.958%
15-Year Fixed: Interest = 2.625%; APR = 3.088%
TIPS:
1. The buying and selling landscape has changed Buyers might feel that sellers and agents should be rolling out the red carpet for them to look at homes. Please understand that this process might not be as instant as it was last week or even two days ago.
2. The transaction will likely be socially distanced Agents will likely ask buyers to take their own car to meet at showings. If buyers are coming from out of town, encourage them to rent a car for their protection and the protection of their families (and your safety, too!)
3. Now is not the time to try to take advantage Buyers might be tempted to throw out multiple low-ball offers at sellers to see what will stick. Buyers might feel as if they are entitled to a deal during these unusual circumstances. Stop.
4. Delays will inevitably happen Right now, life isn’t going according to anyone’s plan. Major life events such as graduations, anniversary parties, showers and weddings are being postponed or cancelled. Sadly, even celebrations of life due to a loved one’s passing can’t be held.
5. Adjust your expectations We’re living in unpredictable times. No one has all the answers — and that includes real estate agents. While people are doing their best to obtain information and updates from their company’s real estate leadership, local, state and national Realtor associations, along with national, state and local officials, this situation is rapidly changing. What happens today might be drastically different tomorrow.
6. Accept that you might not have all the answers This one is tough. It can be easy to panic at the thought of the unknown. Will things get better after mid-April when many of those "temporary" closures and lockdowns are supposed to end? Those are arbitrary dates and deadlines, and we don’t know if they will be extended.
Information courtesy Alice Hayes, Team Hayes Realtors LLC
TEAM HAYES REALTORS LLC
417 Mineral Ave, Suite 1, Libby, Montana, in the Mineral Plaza
Office: 406-293-2725
Cell: (Alice) 406-293-8364, (Jim) 406-293-1926
Text: (Alice) 406-293-8364
Email:
alice@alicehayes.com
jim@alicehayes.com
Website: www.teamhayesrealtors.com
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