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How the Coronavirus will Change the Real Estate Market

We’re only getting one question recently, although it comes in many forms: How will the Coronavirus impact the real estate market?

As we write this today, the real estate market is alive and well. We have received several contracts in the last week and many calls, not to freeze, but to re-strategize. Buyers are still buying homes, and sellers are still selling – just a bit differently than they were a few weeks ago.


A Real Estate Shake-Up for the Better

From where we are standing – looking at the silver linings – the real estate market is just getting a shake for the better. Many of us in real estate are now taking a hard look at what we can improve and how we can offer a more modern home buying and selling experience. This has been our mission since day one, but now extremely important in today’s social-distant environment.

A few things that are already changing – for the better:

Virtual Open Houses and Showings
Our open houses and showings are now digital. We are going inside the homes alone, producing a guided virtual tour so potential buyers can sit in the comfort of their own homes and get an inside look at listings. Visit our Facebook page to take a look. And we are scheduling private Zoom calls or Facetimes to walk you virtually around a home of interest.

Digital Marketing
Social media and online usage are through the roof. It’s the best time to share homes for sale through digital marketing, and we are doing just that. Leveraging Instagram and Facebook stories for tours and encouraging potential buyers to take action with positive outlooks and updates on the market.

Extra Time at Home to Declutter & Improve Curb Appeal
Something that can hold up sellers is preparing their homes for sale: the dreaded decluttering process. With the time at home, sellers are finding it easier to spring clean, improve landscaping, and declutter homes to prepare for the sale. We encourage you to donate as much as possible. There are several Good Will drive through/ drop off locations. Our community will need these items more than ever.

In-House Staging
We have all new furniture and decor that we can use to stage your home. Laura will personally and carefully add sanitized pieces to your house to create the perfect setting for a virtual tour.

Electronic Signings for Closings
Normally the closing table can be crowded with buyers, sellers, agents, attorneys, and settlement agents. New guidelines indicate that electronic signing can take place and limit the paperwork exchange.

Lower Interest Rates
Interest rates are still low, and now is the time to secure a mortgage or refinance before anything changes. We’re in uncharted territory, and we can only hope that the bailouts in place will continue to stimulate the economy and keep these rates close to where they currently are.

Many agents will sit on the sidelines during this time, but we are not. We feel incredibly confident and comfortable navigating home buying and selling during uncertain times. Our mantra has always been “a fresh take on home buying + selling.” That has not, and will not change. Keeping safety, social distance, and client comfort levels a top priority, we are doing everything within our power to make sure we continue to move in the safest way possible.

Let’s keep moving forward together!