A Real Estate Q&A

Q: Did the value of my home just drop?

A: Not at all. In fact, the market in Manhattan stayed very strong through this unprecedented time. There are exceptions, of course, but on the whole, things are still trucking right along. Chances are, your home is worth the same as it was before the Coronavirus changed our lives.

How does shopping for houses work during COVID?

A: It’s different, that’s for sure! But it’s not impossible. We are still doing some virtual showings and/or 3D tours. To decide the best approach for you, contact your preferred Alliance Realty agent and talk to them about what their process is. For occupied homes, please respect homeowners wishes and observe the protocol they request.

What are interest rates like right now?

A: Low. Lower than low. Interest rates fluctuate daily, even hourly sometimes, but a quick survey of a few local lenders showed rates ranging anywhere from 3.125% to 3.375% for a 30-year fixed. Those numbers can vary based on down payment, credit history and other factors, but that’s a quick survey of what buyers are seeing in the market. If you’re thinking about buying, contact your favorite Alliance Realtor today!