Corona Virus Effect on Real Estate

Dated: 03/22/2020

Views: 25

The Coronavirus pandemic has sent the stock market in a downward spiral and has left most Americans struggling to find simple necessities like toilet paper and cleaning products. Working from home has become the new normal and Realtors aren't immune to the crisis with virtual tours of homes quickly becoming the safest way to showcase a For Sale property to a prospective buyer.

With many of us worrying about how we are going to get through the coming weeks and months, there is a silver lining especially for first time home buyers! In these uncertain times, not having a home to sell puts the first time buyer in a great position to move quickly when the perfect home is found. And with the government slashing interest rates, mortgage brokers all over the country have reported a spike in loan applications. If the rates remain at these low percentages, many people that were "thinking" about buying a new home will be pushed off the perverbial fence and into action. This bodes well for the housing market.

So if you're thinking about selling your home, contact your local real estate expert today. Don't delay thinking you'll get a better price after the pandemic has passed because that may not be the case in many markets.

Blog author image

Christine Stilley

I’m sure you know at least a few Realtors. Your cousin, neighbor, maybe even a close friend has a Real Estate license. So why choose me? Yes, I’m a Realtor. But I’m more than that. I’m a Life....

Latest Blog Posts

Corona Virus Effect on Real Estate

The Coronavirus pandemic has sent the stock market in a downward spiral and has left most Americans struggling to find simple necessities like toilet paper and cleaning products. Working from home

Read More

ACHIEVE MORNING PERSON STATUS

Ever wish you could become one of those rare morning people? The ones that wake with a start, feeling refreshed and energized. The ones that get in that morning workout or wrap up some work before

Read More

What does a Seller's Market mean to you?

You've heard the term "Seller's Market" but what does it mean? When the number of potential buyers exceeds the number of homes being sold, it's a seller's market. This tips the advantage toward the

Read More

Create an Evacuation Plan for your Pets

An evacuation plan is a necessity for every home. Many families create evacuation plans for their homes and practice them with their kids, but far fewer have considered one for their pets. Take

Read More