In a matter of weeks the world has changed in ways we have yet to even fathom. Covid-19 has impacted almost all aspects of society, but today we will just focus on what we know best – real estate. While it seems for some that world has almost stopped, we know there are always people moving, buying, and selling homes. What specific impacts has the virus had on them, and what can we do to help?
Depending where you live, ‘shelter in place’ or a number of other guidelines may have been enforced. While this has closed many businesses, title and banks are considered ‘essential’ and will remain open at this time. This means if you are in the middle of a transaction to buy or sell a home- you should be on track to close.
But what if you were hoping to buy or sell a home this spring? Currently we are still seeing new homes being listed. On a national scale, the National Association of REALTORS states that 69% of Realtors have reported no change in the amount of homes on the market as a result of the virus.
At Maine Home Connection, we are using new techniques to bring virtual open houses and showings to buyers so they are able to view a home while keeping themselves and the owners safe. In-home showings will be evaluated based on guidance from the Governor’s office.
In the meantime, if you are looking for new ways to keep yourself busy during social distancing – tackle those home projects! If you are serious about buying or selling, this is the perfect time to start packing or getting rid of unnecessary items! This will put you in a good position for when you are ready to make a move.
Until next time, stay safe and stay healthy.