Our market is strong and continues to move forward as we utilize new strategies during this challenging time.
Helping the Community:One quick recommendation on things we can do right now to help our community: think about paying in advance now for services you can obtain later. For example, can you Venmo/ or pay the person who cuts your hair for a haircut now, to be redeemed in the future? Can you buy gift cards from local restaurants on-line or otherwise, then use them in the future? It's been my goal to seek out opportunities to keep our needed service providers open and sustained now and into the future.
What We're Doing:
The market remains strong. We're seeing that from new properties coming to the market, selling, and many properties still selling with multiple offers. I'm seeing this as recently as today.
- Title companies remain open and operational with mobile notaries.
- Lenders are working
- Some appraisers are able to make independent visits
- Limited functions from other contractors, trades, and vendors.
Regarding Some of The Most Frequently Asked Questions I've Been Getting:
As Realtors, we are not allowed to have face-to-face in person meetings, or conduct showings with clients at this time. However, when a challenge arrises, we as small business owners persevere to achieve your goals. Below are just a few ways we are able to continue moving forward with helping clients buy and sell homes during this period:
- Virtual tours
- Matterport 3D walk throughs
- Docusign, digital signing
- Video conferencing
- Video property walk throughs
- Virtual open houses
A note about new listings coming on the market. Many homeowners are continuing to list their home on the market at this time, due in part to the Multiple Listing Service (MLS) adjusting some of their rules and protocols. This includes, the MLS stopping Days On Market (DOM). Days On Market has been stopped because showings are not currently possible due to the Shelter in Place Restrictions. So sellers are listing their properties now to get exposure, and potentially offers with or without contingencies, this way buyers can act either now, or once the restrictions are lifted.
Other homeowners have taken their homes off the market for this time, and plan to put them back on the market in the future once the SIP restrictions are lifted. This means we may see above average inventory numbers once SIP restrictions are lifted. We are also expecting the pent-up Buyer demand to persist in the near future once those restrictions are lifted.
"What is Going to Happen With Home Prices?"
We don't yet know what the effects of COVID-19 are going to mean for our market. What we do know, is the market remains strong, and demand is high.
"Is Now a Good Time to Buy?"
If you see a property online that you like, please contact me directly to obtain viewing instructions.
Is Now a Good Time to Sell?
Demand remains strong. It's important to note, we are seeing delays in property preparation, and we can expect that even once the Shelter In Place is lifted, many vendors will be inundated with the pent-up demand for services like contractors, photographers, stagers, inspectors, etc who have not been able to access properties during the SIP. This means it's crucial for us to have discussions as early as possible to come up with a property preparing and marketing strategy that allows for the right timing and access to the vendors we need to help you continue to achieve the highest possible price for your home.