Just wanted to send you and your families some love during this time. I am here to help you if you have any questions about lending, buying or selling during this season. We will get through this.
I wanted to update you on how our Bay Area Real Estate market is being effected in this season of Covid-19. We are still early in this process of seeing the effects but overall we are in a bit of a holding pattern. Some experts are saying overnight our market almost shifted from being a sellers market to more of a buyers market with the interest rates dropping so drastically and the access to homes being so restricted.
The biggest factors are:
- no open houses are allowed
- people do not want to walk through lived in homes
- many banks have stopped allowing appraisers from going out to the properties
- photographers, videographers and real estate marketing professionals are hard to come by
- construction workers, repairmen and workers for the most part are not working on homes
Over the last few weeks approximately 20% of homes for sale have been taken off the market. This is normally the peak of our real estate market but thankfully experts are predicting if will delay the market into May, June, July, People still need to buy, sell and move and we are hopeful our market will bounce back.
How we as realtors are shifting our focus:
- we are still here to help you buy or sell, just all meetings are done on zoom or a phone call
- buyers are online a ton right now so providing 3D video and photos are essential
- as realtors we are posting walk through videos for buyers. We can facetime buyers
and send over any visuals you may need without exposing yourself to the home
- we are being sure all homes are disinfected, wiped down, and safe for all