A lot of questions are on the mind of people. I hope to answer a few for you (read through to the end for some resources that could help.)
If you are suddenly a stay at home parent of a stay at home student and you are looking for activities to offer, I have a resource for you. Here is an online tool that provides simulations, educational games, hackathons, and more to keep your kids active with things that will benefit them.
My friend Frazier O'Leary and I put this together for you. You may find some webinars, fun quizzes, games, and educational resources for your kids.
Let me tell you what is going on in the Real Estate marketplace. As a real estate professional, I take a look at the market every single day.
Over the last two weeks, with the Coronavirus, and the isolation and the quarantine. I’ve been paying attention even closer than usual to the marketplace and what’s going on. So, I wanted to share this with you so that you will understand.
If you are a buyer OR a seller:
Proportionally, there’s been more activity, over the last 30 days, than in 2019, a year ago. Over the next few weeks, I expect an overall slow down of the number of homes sold, yet for those that want to sell or buy, it will be business as semi-usual because of the corresponding activity of buyers and sellers. In other words, there will be an equal amount of fewer sellers, as there will be fewer buyers.
According to a March 23 article on WTOP,
“Today, we are looking at a recession not caused by the housing market. It is caused by a viral pandemic, so it is a very different story today. Banks are also much more capitalized than they were going into the last recession, largely because of new regulatory requirements put in place after 2008.
“It is going to be very difficult to tell how much demand pulls back and how much supply pulls back. If they kind of both pull back, the net effect is kind of ambiguous.”
In the past seven days, we’ve helped two buyers find a home and two other sellers to find a buyer.
If you are considering any real estate plans in the next 90 days or if you were previously going to buy or sell and are taking a break (I understand!), let me know. I can keep you up to date on the daily information that you should know about the real estate market.
If you are a seller:
People want to sell, and many are taking a break this week to sit on the sidelines. More homes are coming soon than a year ago. What this means is that if you want to sell, the inventory is dramatically down TODAY and there is a pent up supply that will hit the market soon. Selling while the competition is low is better than competing with many other sellers when the market gets swamped.
If you are a buyer:
If you are in the market to BUY a home, check with me the interest rates because they are fluctuating RAPIDLY. I do believe that there’s an opportunity to be able to get a rock bottom rate in a mortgage, which depends on the day because literally, it’s a day by day scenario.
I am working with a buyer, Clarice and she is rightfully concerned about the Corona Virus. We are doing virtual showings for her with our i-Phones and Facetime. When we find the right home for her, we will arrange to show it in person. I could do the same for you.
If you are NEITHER a seller or a buyer:
Most importantly, if you have NO real estate needs, but have OTHER needs, let me know. I will help you in any way that I can, and I have tons of resources.
Many of my friends are scared. I know that uncertainty can be terrifying. I reassure you that this is a short term situation and life WILL get back to normal.
Some people are lonely. If you are looking to hang out with other people, let me know. I network online with social groups every day. I would love if you joined us for a Zoom Coffee or Happy Hour. It is fun to talk with other people.
If you want to talk about ANYTHING (or need to B.S. with a friend, give me a call or text me.) I'm here to listen! If you need me, send me an email at Dan@greetingsvirginia.com or call me at 703-346-2776.
Here is how you can protect yourself. https://www.cdc.gov/coronavirus/2019-ncov/prepare/prevention.html
What to do if you are sick.
https://www.cdc.gov/coronavirus/2019-ncov/if-you-are-sick/steps-when-sick.html
Have a question about buying, selling or investing?
We have answers! Team Leader/Broker Dan Rochon provides insights on the local market and answers YOUR questions about all things real estate.
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