Is Covid19 affecting home sales? Here's how we're doing & some insight from the National Association of REALTORS® too...

Dated: April 10 2020

Views: 123

Is Covid19 affecting home sales?  

Posted by Lindsey Haas April 10th, 2020 

Our team is still selling homes in the current market conditions. Yes of course we had a few people that were nervous about their jobs and placed things on hold until this time passes but others still desire to move and take advantage of the extremely low interest rates, some have already sold their home and have to find one, others have a lease expiring or are relocating to the area.  We have helped sellers and buyers in all of these situations in the past 30 days and we will continue to serve those that need our help. 

Open houses are on hold, we are encouraing virtual tours first on homes that are occupied or asking agents for their virtual tours. The industry has made some accomodations to keep everyone safe, not only in showings, but during inspections and closings too. Showings are down but we know they will increase when this is all over. Many people still have jobs or those that don't will get them back soon!

Since March 3, 2020, our small team has listed 6 homes for sale in North Metro Atlanta ranging from $250,000 to $730,000 and of those homes we already have 4 under contract.  We also have 2 more coming on the market in the next week so things seem to be fine on home buying and selling at the moment and most everyone is optimistic. Showings are down somewhat but serious buyers are still out and looking. We sold a home through facetime and the inspector went over the findings with the buyer on facetime. 

This is not a financial crisis like we had years ago and certinaly not a mortgage crisis. This is a pause in time where people will get their jobs back, they will get back on their feet and all will be fine. It may take a few months for everyone to do so but we expect the summer market to be busy. Having rates the lowest they've been since the 70s is a saving grace for the real estate market.

I will add that our online views are up and people are searching for homes online more than they ever. Others are working hard on fixing up their homes to pass the time and thinking they may put it on the market especially because rates are so low and upgrading to a larger home is cheaper than it ever has been.  

Changes we have made to better serve our clients is all our listings get a 1 1/2 - 2 min virtual tour so buyers can truly preview a home before deciding to venture out to see it.  Our past videos have been 30-60 seconds. This is critical in this time and we have increased our videos to help accomodate the changes. We also can do facetime tours and have the inspectors facetime inspection results as well.  

If someone wants to see a home, we wear masks, keep our distance and sanitize before and after showings.  We limit touching anything inside the home and don't open closets and cabinets as much as possible to keep touching items low.  We have asked sellers to open all closets and doors inside the home so we don't have to do so. 

Real estate is considered essential and closings are still occuring virtually, in parking lots and buyers and sellers are in separate rooms if they choose to attend in person.  Accomodations make it all work and things seem to be going well as of now and we hope they will continue. 

NAR Research compiles the latest housing market data in this weekly monitor, based on what REALTORS® are seeing in their market, mortgage data, jobless claims, foot traffic, and the latest home sales numbers. Check out some of the data they have compiled over the past few weeks...

Credit: https://www.nar.realtor/research-and-statistics/research-reports/weekly-housing-market-monitor

Stay positive and this time shall pass. 

Need some guidance?  Feel free to reach out to Realtor Lindsey Haas to discuss your options and concerns. 

The Lindsey Haas Team
678-933-1962
lindsey@thehaasteam.net

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Jeremy & Lindsey Haas

Lindsey has been a full time Realtor since 2006 serving buyers and sellers of all prices. Year after year her business grew mostly by referrals from past clients and repeat business. In 2012, Jeremy ....

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