How Coronavirus Changed The Real Estate Market
How Coronavirus Changed The Real Estate Market
In this video I’m going to show you how Coronavirus changed the Real Estate Market in 2020… and really…it changed it forever!
Stay to the end & I’ll give you a bit of a forecast of what we can expect… It’s surprising!!! Well… I was surprised.
In some ways… it changed it for good…Some things we expected… some things we didn’t.
Like me… for instance… There’s NO WAY I would’ve dressed like this if it wasn’t for that pandemic!
Mittens? At the beach… in So Cal? Geez …ok I don’t OWN any mittens… because of what I just said..
Here in the South Bay… we went into the DAMMM-demic with low supply and high demand…
Fixed interest rates were in the 3%’s and dropping
Then… lockdown! Unreal!
Because of that … the spring selling season was delayed until May/June and it kept going strong thru December!
…ANNNND THAT increased pent up demand!
… ANNNND THAT… is driving up prices!
Also… Working Remotely… your needs changed because of the lockdown….working from home and homeschooling. People aren’t as concerned
about commuting because of the work from home order. So we’ve seen that they’re moving out of dense areas (downtowns) to less crowded & more affordable areas… who knew?
PLUS… Millennial’s are having kids!!!!
Last year in the South Bay… the Beach Cities actually closed MORE homes than the previous 2 years!
WHAT?
REAL ESTATE AGENTS… how are we (hopefully) changed?
Virtual (almost) everything. I’ve been doing this for years… but my industry hasn’t until THEY WERE FORCED TO last year.
Virtual walk-throughs- 360 degree video virtual tours-FaceTime and Zoom interviews, showings, home inspection-highlights and even Final Walkthroughs.
We can do a lot of what we do Contactless and who knew that most people would embrace that? We (well… most of us) are doing whatever we can to keep everyone
safe- gloves- masks- booties- disinfecting surfaces after in person showings, inspections, appraisals and walkthroughs…You name it.
If you’d like to know more… watch this video here I’m pointing to at 2:34
There’s almost no foreclosure activity and most people have a lot of equity. So far, here in the beach cities we’re not seeing any changes other than this same kind of market
…In the foreseeable future.
That’s a few of the biggies of how The Corona-Crap has changed real estate…
Stay tuned for:
If you’re looking to sell in 2021- view and download my Home Selling Checklist
And…If you’re thinking of buying a house – view my Home Buying Guide The links are below or in my Bio. It’s digital ANNND there’s no fingerprints!
http://bit.ly/DarylPalmers-HomeBuyersGuide
http://bit.ly/DarylPalmers-HomeSellerChecklist
Call or write me so I can help you in your Quest!
BE SAFE!
Virtually Yours…
Daryl Palmer
Real Real Estatetist
310-502-4240
Read this on the Blog: https://southbayfineproperties.com/real-estate-market-update-2020-south-bay-edition/
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