Let’s talk about the issue at hand – COVID-19 and The Impact on The Housing Market. First and foremost, we can’t thank all the medical professionals, firefighters (fire wife here!), police officers, grocery store employees, and everyone out helping the community during this crazy time. The healthcare officials and industry leaders have been diligent and I know we will get through this and back to normalcy. 

COVID-19 and The Impact on The Housing Market

Of course, Covid-19 has caused uncertainty and hesitation across the board. We went from being in an extremely hot market – to a sense of uncertainty in less than weeks. What I do know, is that after this has passed (and this too shall pass) we will be right where we started. We live in tropical paradise. People will always be buying and selling for different reasons: retirement, down-sizing, up-sizing, snowbirds, job transfer, school district, etc.

The market is changing and will continue to evolve. We have seen a slight price reduction in a lot of homes. I’m talking $5-10K, nothing crazy. Interest rates continue to be at a low. Two to three weeks ago we were at an all time low. Rates have gone up about a point in the last week or so, but continue to be low. 

My partner, Brandon Sargent, and I are committed to keeping you informed + updated throughout this process. We will be working from home and continuing any business as usual. This includes virtual tours, seller consultations, contracts, and beyond. The market will not stop (although it may be different) and neither will we. 

Here’s my suggestion:

Get pre-qualified now! I can set you up with a lender who can get you pre-qualified and lock in a low rate for you. When the market bounces back, and IT WILL… you want to be prepared to jump on any home or investment property before the rest. With the summer approaching, homes will be listed and buyers will be out looking to move before the new school year. This will cause more competition, higher demand, and lower inventory. 

I always like to look at the positives. Take this opportunity to put you and your family in a better position. Of course, we will continue to market our listings and use the internet + our marketing expertise to our advantage. Now is a great time. With more time on our hands, people are scouring the internet more than usual. Wouldn’t it be great to have your home be seen by all these people? If you’re a buyer, wouldn’t you want to have the opportunity to buy when there is less competition and sellers are motivated due to the uncertainty? It’s a win-win! 

If you have any questions, feel free to reach out at any time. We are here to be your guides through this time and help in any way we can.