One Priority…You.

 

We know these are some very trying times we’re in and have ahead of us, but we are here to serve you and have your best interest in mind. 

 

The real estate market is not business as usual, but we are still doing business. Everyone in our community of companies have come together to not only help keep our clients safe, but to further guide them through a successful transaction during these unusual market challenges.

 

Here are some the most frequently asked questions about how to navigate the market.

 

Is it safe to look at homes or have showings? While a personal choice, we encourage all sellers and buyers follow health and safety recommendations. We are asking that each home have all lights on and doors open, reducing the need to touch any surfaces. Use sanitizers and disposable gloves, as your Realtor will be doing the same. We suggest social distancing or arrange to not be home and remember to sanitize surfaces after showings. Although not without risk, we are a lower risk industry with small groups in limited contact during showings.

 

What about mortgages rates and qualifications? This is still an extraordinary time to take advantage of historically low rates and flexible terms. Even if you may be concerned about a possible job furlough or income interruption, we may be able to provide you the financing you need.

 

How is the real estate market? Still active. There will be some sellers who take their homes off the market and some buyers who will decide to sit on the fence for a while. However, demand is ahead of supply so we are seeing multiple offers and active showings, particularly in the under $400,000 segments.

 

Is it better to buy now or wait? The crystal balls are not very clear right now but we do not anticipate home values to decline during this slowdown as underlying buyer demand is still too strong. So, waiting may not afford you a lower price but it is likely to result in a higher interest rate as the economy recovers.

 

Is it better to sell now or wait? Buyer demand is still strong, with fewer homes on the market, many sellers are receiving strong offers. Most important is your comfort with showing your home. Talk to your Realtor. If you are not receiving activity, we can adjust your marketing plan, suspend showings or temporarily take your home off the market at any time.

 

Can I continue to place my home on the market but not allow or limit showings? Yes, it is possible to continue to market your home with no or limited showings. Talk to your Realtor about making arrangements. Your home will be showcased online and we can offer live video tours for buyers. We anticipate there will be a number of offers made conditioned on a physical walkthrough.

 

What will happen to property values? Most economists expect home values to remain stable. We do expect buyer demand to fall as we move to a recovery but not enough to cause a significant drop in home values.

 

What delays can I expect in closing a sale? We are not seeing many delays yet, but we can expect slower mortgage and municipal approvals so be patient and allow for an extra week or two. Be flexible on your moving and closing dates.

 

We are prepared to do business safely. Our marketing support services continue to be available to our clients, customers and agents through our remote access platforms. Our sales team has everything they need to do business without being physically present in an office or even a home. Our mortgage, title and insurance companies are working closely together to assure the continued services you need and expect. Our clients will be able to coordinate, through their agent, the services they need for their marketing, negotiations, financing and closings.

 

We are grateful for your support. We know this disruption is temporary, and that the world will rebound soon. Events of the past weeks reinforce the appreciation we have for our clients and communities. We approach the days ahead with a deep sense of gratitude for the trust you have in us and are committed to helping you with your real estate needs.

 

Please stay safe, and don’t hesitate to contact me with any questions or need