It’s no surprise that everyone learned something new during the pandemic. We learned different ways to live, work, learn, play, and buy a home. In fact, the National Association of Realtors reported that the number of home sales in 2020 was the highest in 14 years. Plus, the percentage of homes purchased sight unseen grew 300 percent, according to Joe Camerieri of Mortgage Cadence.
We all learned more ways to do our banking in 2020, including applying for a home loan online and through apps because our local branches were closed or operated with new safety protocols.
So, what can we expect post-pandemic?
Online Loan Applications to Expand
According to the March 2021 Bankers and Buyers report by William Mills Agency, many banks have adjusted their technology strategies with 68% expected to increase loan application automation spending. Taking, processing, and closing loan applications may become seamless and intuitive, including extracting data from the lender and third-party documents. Using technology to “read” the information on a PDF form is just one example.
Your Local Bank Branch May Disappear
Many bank and lender employees have succeeded in working from home during the pandemic. Productivity couldn’t be quarantined, and banks were forced to tighten up technology security and provide tools to their employees so business could continue (such as the ability to buy a house!). Traditional banks are expected to continue to allow their employees to work from home on a full or part-time basis. This means that when you buy or sell your house, you’ll enjoy the benefits of “banking from anywhere.” As a result, local bank branches may consolidate physical locations. Also, “Challenger Banks” such as Square and Paypal, which have no physical branches at all, will continue to drive the banking industry’s transformation as more traditional banks adjust their technology to compete.
For Doctors Only
You may see specialization in the banking world in 2021. For example, Key Bank will launch a digital bank targeting health care professionals on National Doctors Day, March 30. Others will open banking programs for various like-minded groups and professions. How will this affect you? As with any new promotion, there may be incentives for early adopters. Then, as with credit unions, members may experience member-only pricing, rates, and features.
For the week of March 8, 2021 we continue to see higher numbers year over year for the number of homes sold, the number of homes under contract, the sales price of homes sold, and rental prices. The number of NEW LISTINGS IS DOWN.
That means we continue to have a competitive home market, even with the talk about slightly higher (but still historically low) interest rates. Remember, we are here to help you navigate your options and what the changing tides may mean for you.
Don’t forget to download our app where you’ll find a Guide about the Home Selling process so when you’re ready, we can get you moving in the right direction.
Voted as one of the most romantic things to do in Chicago by USA today, this digital display of the colorful art of Van Gogh will take your breath away.
Experience art like never before – lose yourself in 500,000 cubic feet of flawless projections animating Vincent van Gogh’s oeuvre. Wander through entrancing, moving images that highlight brushstrokes, detail, and color – truly illuminating the mind of the genius.
You will be immersed in Van Gogh’s works – from his sunny landscapes and night scenes to his portraits and still life paintings. The installation includes the Mangeurs de pommes de terre (The Potato Eaters, 1885), the Nuit étoilée (Starry Night, 1889), Les Tournesols (Sunflowers, 1888), and La Chambre à coucher (The Bedroom, 1889), and so much more.
The exhibition is custom-designed to Chicago’s Germania Club – transforming the neoclassical into the magical.
The Wexler Group at Keller Williams Preferred Realty is thrilled about working with NAWS Humane Society of Illinois to accomplish our mission of helping to rescue one pet for every home we sell. We are Realtors who rescue dogs and cats from unjust situations and could not think of a better company to team up with.
NAWS rescues dogs and cats from high-kill facilities that are likely to be put down. This means they take in very young puppies and kittens, terminally ill and senior pets, and other animals in difficult situations such as heartworm positive dogs. NAWS aims to end pet homelessness and unnecessary pet euthanasia, focusing specifically on providing low cost spay and neuter services to prevent litters that would not get the proper care they deserve..
The Wexler Group is very passionate about this organization, along with all the other great charities we work with. Every person that buys or sells a home with The Wexler Group will have the option, at our expense, to welcome a rescue dog to their home or we’ll make a donation to NAWS in your name. If you would like more information about NAWS or the work we do for our community, please feel free to contact our team at any time!
