More Homebuyers Would Buy Sight Unseen, thanks to Virtual Tours
Didier Malagies • July 18, 2020
More Homebuyers Would Buy Sight Unseen, Thanks to Virtual Tours
Jordan Borchard posted in
Housing in Housing News
More Homebuyers Would Buy Sight Unseen, Thanks to Virtual Tours
Written by: Julia Falcon
Popular solutions in the real estate industry, while in-person open houses were put on hold due to the COVID-19 pandemic, are 3D home tours, virtual home tours and even FaceTime home tours.
In April, realtor.com said that about 25% of home shoppers would buy a home without even stepping foot in it. Now, that number has notably risen.
According to Zillow, 36% of Americans said they would be more likely to try and buy a home entirely online because of the pandemic. And, 43% said they would be more likely to sell a home entirely online because of the pandemic.
After the current outbreak ends, according to Zillow, 30% would still be likely to buy a home completely online and 33% said they would still be more likely to sell a home entirely online, too.
“The home shopping tradition of loading the family into the minivan and touring open houses all weekend may be over,” said Zillow economist Jeff Tucker. “Now shoppers are realizing they can use virtual tours to either skip in-person shopping, or at least to winnow down their options and visit fewer homes in person, making it easier and less time-consuming to find their next home. That speed advantage can give buyers a leg up in today’s fast-moving market. “
Zillow itself has 3D home technology, the use of which it says skyrocketed more than 750% in one month after the pandemic was declared. Usage has remained at least three times as high in the following months.
Out of the Zillow agents who were surveyed, 86% said they started or continued to use virtual or video home tours during the outbreak, and 72% said they are likely to continue providing those tours after the current outbreak has ended.
Fewer in-person showings at least most of the time during the current outbreak was the case for 64% of agents, and 31% anticipate this trend will continue after the outbreak is over.
Additionally, 75% of U.S. adults said they would want the option to tour remotely through virtual or video technology if they were home shopping right now.
This June 30 HousingWire piece offers more perspective from real estate agents who sit on both sides of the fence regarding whether we should ditch open houses, or not.
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Excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations. Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329
We're excited to share a major update that will make the homebuying process more secure and less stressful. President Donald Trump recently signed the Homebuyers Privacy Protection Act of 2025 into law. This bill is a significant victory for the real estate industry, as it directly addresses the problem of unwanted calls, texts, and emails that often flood clients upon mortgage application. What's Changing? For years, many borrowers have experienced a barrage of unsolicited contact from different lenders immediately after their mortgage application. This happens because of "trigger leads"—a process where credit reporting agencies sell information to other companies once a credit inquiry is made. Effective March 5, 2026, this new law will put a stop to this practice. It will severely limit who can receive client contact information, ensuring client privacy is protected. A credit reporting agency will only be able to share trigger lead information with a third party if: • Clients explicitly consent to the solicitations. • The third party has an existing business relationship. This change means a more efficient, respectful, and responsible homebuying journey. We are committed to a seamless process and will keep you informed of any further developments as the effective date approaches. In the meantime, you can use the information below to inform clients how to proactively protect themselves from unwanted solicitations. Opting Out: • OptOutPrescreen.com: You can opt out of trigger leads through the official opt-out service, OptOutPrescreen.com. • Do Not Call Registry: You can also register your phone number with the National Do Not Call Registry to reduce unsolicited calls. • DMA.choice.org: For mail solicitations, you can register with DMA.choice.org to reduce promotional mail. Didier Malagies nmls212566 DDA Mortgage nmls324329
Good question — refinancing can be a smart move, but the timing really matters. The "right time" to refinance your mortgage depends on a mix of personal and market factors. Here are the main ones to weigh: 1. Interest Rates If current mortgage rates are at least 2% lower than your existing rate, refinancing could save you money. Example: Dropping from 7% to 6% on a $300,000 loan can save hundreds per month. 2. Loan Term Goals Switching from a 30-year to a 15-year mortgage can help you pay off your home faster (though monthly payments are higher). Extending your term may lower your monthly payment but increase total interest paid. 3. Equity in Your Home Lenders usually want you to have at least 20% equity for the best rates and to avoid private mortgage insurance (PMI). If your home’s value has increased, refinancing can help eliminate PMI. 4. Credit Score If your credit score has improved since you got your mortgage, you may now qualify for much better rates. 5. Life Situation Planning to stay in the home at least 3–5 years? That’s often how long it takes to “break even” on refinance closing costs. If you might sell sooner, refinancing may not make sense. 6. Debt or Cash Needs A cash-out refinance can help if you want to consolidate higher-interest debt, fund renovations, or free up cash — but it raises your loan balance. ✅ Rule of Thumb: Refinance if you can lower your rate, shorten your term, or eliminate PMI, and you’ll stay in the home long enough to recover the costs. tune in and learn https://www.ddamortgage.com/blog didier malagies nmls#212566 dda mortgage nmls#324329
