Posted by Blake Montgomery on Jan 11, 2021 4:51:50 PM
Blake Montgomery

Watch Patrick and Viktoria To Learn More










From the December KATV interview with Patrick Dennis and Viktoria Capek

No Headphones.  No Problem.  See below for transcript.

from the station that's on your side

this is channel 7 news good morning


hi everyone welcome back to good morning

arkansas so as the final days of 2020

come to an end

many across the country are eager to

maybe close out this chapter and

bring in the new year of course 2021 is

a year of many unknowns

after much surprises around every corner

you could say in 2020 and one thing

is for sure the housing market at the

very least is

still super hot right now and has

remained hot since the early days of the


fueled by historically low rates and a

shift in lifestyles

but will the housing market remain this

incredible in 2021 that's the question

we have here this morning and here to

give us

an understanding on maybe what we can

expect a little bit is patrick dennis

loan officer with the bank of little

rock mortgage

patrick thanks for joining us we know

that the housing market has been

awesome in 2020. what do we think is

going to

impact that in 2021 how do we think

that's going to look

yeah so um thanks for having me and um

in 2020

what we've seen is obviously the

coronavirus impacted all of our lives in

different areas

and the housing market was definitely

hit by that

in your normal seasonal pattern march is

the kickoff for

home sales march and april but as you

know that's when

the coronavirus started kicking in for


so it kind of delayed things july it

started getting a little bit

hotter as far as the market goes low


really kept that rolling in low rates uh

and we were busy up through november

so that being said inventories are still


so going into 2021 i i got to see the

same picture until

you know vaccines kick in and people are

really ready to open up their houses and

and get ready to sell

um we'll see if march is that official

kickoff again

wow it'll definitely look interesting to

see what comes

of the next year do you expect the cost

of housing to rise in 2021

you know what we've seen here is a lot

of bidding wars lately

um a house goes on the market due to

that low inventory

uh you get six or seven offers in that

same day on some of these houses

so um that tends to raise prices

um and as those sales go and they're

going over list price

uh they have nothing but to do than go

up this year and that kind of uh

i think that'll still push into 2021

since the inventory is low

and and i think those prices will will

go up um

who knows for how long we'll see we'll

see how that plays out but

um you know the moral of that whole

situation is

be ready be pre-qualified be ready to

jump at any moment because

if you're bidding 200 000 on a house

make sure you're ready to

spend 225 if you get in one of those

bidding wars

and make sure you want to spend that

amount of money as well so getting

pre-qualified is the key to that whole


okay definitely good reminders to keep

in mind there now as a representing

member of the

millennial community i want to know are

millennials playing a

big role in this market right now you


you guys are there's no question about

it um you know i think

all generations are taking advantage of

the low rates and the situations out


even we're seeing uh gen z um

you know younger people who who were

who are kind of in in apartments and

during this pandemic you're at home

wanting more space uh you know working

at home wanting an

extra room and why not pay yourself

instead of pay the landlord and you know


uh it just makes more sense to go out

there and buy something where you might

have a lower payment than your rent

you got a backyard uh you know just

some place to go rather than sitting in

that apartment but yeah

we see all uh generations either

upgrading or going out there to buy

their first home right now

or at least trying to pretty cool

curious as to what you think about um

the stay at home orders that we've been

having you know you just mentioned a lot

of people are staying at home

do you think that the stay-at-home

orders of covid are going to roll into

2021 as well

i i think they're gonna roll into 2021

and and even beyond that i think we're

just seeing what can happen over

you know what's happened with the

pandemic and and we're changing our

lifestyles i mean people working from


obviously i'm working from home um

so uh they're looking for more space in


in 2001 i think 15 of uh

people in the united states worked from

home uh in 2018

the numbers went to 25 can you imagine

what they're going to be

21 22 uh you know they're going to be

well above that 25

mark um so they're looking for that

space for an office

they're also looking for you know yards

pools houses with pools or big sales

right now

uh basketball courts we're seeing just

people buying you know

acreage to create their own compound

pretty cool stuff what other shifts in

buying patterns do you think we might

see in 2021

yeah so for us in our sales cycle we're

already in 2021 being in december

of 2020. uh most of the loans that i'm

getting right now

are for january february of of 21.

we're seeing a lot of investment

property um

you know vacation homes uh

land lots on the lake too you know just

things where places where people can go

and they can just drive

um and not fly non-congested

vacation situations you know you're not

seeing people going on cruises or going

to resorts necessarily at right now

but you are seeing them you know i see

people buy lake houses

people buying houses up in the ozarks in

the mountains right now

just some place you can take your family

within driving distance

and still have some social distance but

still have a good time

and why not rates are low it's a good


and it's something you can have long

term yeah and who doesn't love a good

weekend away at a lake house or in a

cabin in the mountains

patrick if viewers at home are

interested in partaking in these low


and maybe want to learn more where can

they reach you guys out to get some help

with all of that

yeah so give us a call at bank of little

rock mortgage where we can be reached at


219 9100 also

facebook twitter all the usual suspects


the usual suspects i love it well

patrick thanks so much for coming on and

reminding us once again that if you want

to maybe buy a house

now is probably the time we'll have more

good morning arkansas on the other side

of this commercial break

Topics: mortgage first-time home buyer Low Down Payment Home Ready Rent or Buy