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Update Addressing COVID-19

I wanted to reach out and let you know, for the time being, #TeamMonticello will be “sheltering in place.” We are doing our part to flatten the curve and get through the Coronavirus crisis as quickly and safely as we can.We want to keep our clients updated during these troubling times. This is an unprecedented and serious public health crisis. Our office has been ordered to shut down, and all of our team members are working from home. But rest assured – we are still working and want to be there for you in any way we can.

Governor Cuomo launched the NY Pause Executive Order which forced closures of all non-essential businesses. Banks, appraisers, attorneys and title companies are still considered essential employees. Unfortunately, we are unable to work in field work and conduct open houses, showings, and in person listing presentations. We are, however, able to accommodate tours, continue to gather information and answer your questions, and work virtually.

For any buyer who is pre-qualified and wants to see a house, we’re happy to reach out to the listing agent to facilitate options. For any seller looking to sell, we’re happy to offer a virtual meeting or video conference call. Closings are deemed essential and able to proceed, but licensees should not attend closings unless their presence is essential to the successful completion of the transaction.

We urge everyone to please stay safe, practice social distancing, and find the silver lining. Maybe for you this will come in increased family time, maybe you will have more time to be outdoors, or learn a new recipe. Stay strong. #InThisTogether #TeamMonticello #StayPositive

What are the mortgage rates like at this time?

There has been an effect on mortgages during this period. Mortgage rates have increased. Cap Com is at 3.875% and SEFCU at 3.75%. Trustco is still 3.5% with 10% down, and no PMI.
I was looking into the Homebuyer Dream Program before all of this happened, will I still be able to apply?

If you were looking into the 2020 Homebuyer Dream Program, it has been put on hold until June 1st. The requirements are still the same; you must work at least 32 hours a week, have $1,000 in savings, make under $71,920 in a 1-2 person home, and less than $82,700 in a 3+ person home.
I am facing financial difficulties at this time, are there programs that I should look into?

Right now, struggling homeowners can defer their mortgage payments for up to 12 months. It is worth checking in with your mortgage servicing company to request the deferral . 
How will this affect the sale of our home?

Though things are running a little behind, we still anticipate being able to work with our clients virtually. We have Virtual tours, and have ideas in the works for virtual open houses. Monticello is ahead of the curve in that we can work everything remotely. Banks, Title companies, photographers, and other single member companies can still work hard for you with us and get you to close.  
If you have any other questions please do not hesitate to reach out!

Alexander H. Monticello, Esq.  Principal Real Estate Broker & Licensed Attorney