Impact of the Current Situation on Real Estate Activity

My clients ask: what is the current impact of the current situation on real estate activity?

The California Association of Realtors issued an update on the impact of Covid 19 which is pretty comprehensive.  This being said, many of my clients are asking me what is the impact locally.

The situation changes day to day, literally, with new changes in the regulations and limitations.

As of now, real estate is deemed an essential activity at the Federal level, and also at the California level, although many aspects of the regular activities of a Realtor are very strictly regulated.  Without going into the details, interactions with the public are to be limited to the extreme, the essential, and when they happen it has to be with all mandated precautions – which is of course very good, and welcome.

The market? About the same at this point: there are much fewer properties on the market now, but there are fewer showings for obvious reasons.  It is an excellent time to sell a property, and also a good time to be actively looking for a home.  Precise protocols have to be put in place so that all parties are comfortable with the ways to proceed, and follow the advisories.  Will prices suffer or not?  A little too early to tell in my opinion.  I do expect the number of transactions to be smaller in April though.

What is also good to know is that nearly everything can be done virtually if you are seeking to sell your property, or if you are thinking of a purchase. Facetime or call or text me should you have any questions regarding the process in this new environment.

Thank you,

Francis

Home Valuation tool

Detailed, local trends etc...

Current mortgage rates   - low, with a lot of volatility.

Finding Ways to Stay Positive in these Challenging Times

Dear friends, clients,

In these challenging times, I have personally set a goal to stay positive and spread kindness, as everyone goes through some kind of anxiety. Here are a few simple, effective ideas to make sure we see the silver lining each day.

• Get outdoors. Walk, garden or just take time to reflect and smell the roses.
• Use FaceTime, Teams or any other social media way or communication, or pick up the phone to check in on friends, family, neighbors and colleagues.
• Spread some kindness each day. Nextdoor lets you see what others in your community may need. Give back – helping others helps you too.
• Have a laugh! Share some jokes or funny videos to alleviate stress and lighten up with laughter.
• Be grateful. Leave a reminder in your phone each day to give thanks for all the good in your life.
• Schedule some downtime from social media and the latest headlines. Quiet time is essential, and you might find a break from the headlines brightens your day.

Remember, today's issues are temporary, and hopefully will bring long lasting lessons. How can we help bring a better tomorrow? I believe we can stay strong and persevere. Please feel free to contact me for any reason – whether you have real estate questions (yes, most things can be done remotely), or you just need someone to talk to. We'll get through this together!  


Thank you for reading, and stay safe!


Francis

My Home Valuation tool
Detailed, local trends etc...
Current mortgage rates   Time to refinance? Give me a call.