I wanted to give you an update on how things have been in the Real Estate Industry this last week. Like many other businesses, ours has been significantly limited as Realtors are unable to:
-meet with clients face to face
-show properties (unless virtually)
-host open houses
-conduct visual inspections
The official order for us to eliminate our face-to-face activities came from Governor Newsom and the California Department of Real Estate late last week. I have been relieved that our governing bodies have mandated all of us to be safe and responsible community members.
Transactions are still continuing to go through, albeit, slowly. Lenders are experiencing some delays with appraisals and rates are understandably fluctuating as global markets are experiencing much uncertainty. Virtual showings are certainly possible but I am not sure how many buyers will want to commit to purchasing a property without having actually set foot in it.
My job, until the shelter-in-place order is lifted, is to:
-keep you posted on the latest activity in the market
-answer any questions you may have about buying and selling at this time or when things go back to a more normal pace
Time will tell what the housing market will do in the coming weeks and months. I will continue to monitor the activity of the housing market and report them to you. If you are a recipient of Real Scout (a service that will keep you posted on the housing inventory), you will be updated on the latest activity. If you would like to start receiving Real Scout, feel free to respond to this message.
As always, if there is anything I can do to be of service let me know.
Be well and stay safe,
Sophia
