BGRS News

Industry leaders confer on guiding government relocation professionals about the economy’s impact on the real estate market and advising homeowners about making wise purchase decisions.

Fedtalk podcast host Jason Briefel, a Partner at federal employment law firm Shaw Bransford & Roth P.C., invited BGRS’s Amber Tucker, Vice President of U.S. Government Client Services, and Cardinal Financial’s Joe Vultaggio and Gavin Luckman, Branch Managers, to join his recent podcast, “Navigating the Realities of Today’s Real Estate Market”. The conversation focuses on the effect that recent world events, such as the COVID-19 pandemic, have had on the economy and how that translates into a shift in the real estate market.

Amber Tucker addresses the regional differences between urban and rural areas, including pricing, inventory, and availability and how they affect the government sector, in particular. She also outlines several changes in the home buying process that will transform how transactions are handled in the future, including that:

• Home inspections are now digitized or waived.
• Wet signatures have been replaced with validated electronic signatures.
• Virtual appraisals were introduced.
• Technology has made the overall process for consumers more streamlined and less paper intensive.

Joe Vultaggio and Gavin Luckman weigh in on rising interest rates and provide suggestions for those considering a home purchase:

• Seek mortgage pre-approval.
• Establish a realistic home purchase budget.
• Set aside emergency funds/a reserve.
• Refinance when interest rates improve.

To listen to the podcast, click here.