Friday, May 8, 2020
By Mary Jo Morgan

Although there is still a little way to go, there are more positive indications that we will begin to see a progressive return to more normal living conditions and the eventual lifting of stay at home lockdown orders.

The really good news in real estate is that things are actually in pretty good shape as the situation begins to ease.

Despite a lot of fears about what would happen to the homes market going into lockdown, property has continued to sell and many buyers have been undeterred from purchasing.

This has partly been facilitated by a heavier reliance than ever on electronic communication methods, from virtual showings and online tours to e-signing of documents.

In other words, real estate has adapted incredibly well to life's new norms. In consequence, prices haven't collapsed, deals are being made daily and, with the caveats of living life in a pandemic, it's essentially business as usual.

And maybe it's also true to observe that real estate is in a far better position than a lot of businesses, because it is absolutely possible these days to search for, identify and purchase a home without ever leaving your armchair! Not ideal in some ways, but perfect if you simply have to move or live out of town and want to secure the property you've been looking for before someone else does!

Indeed it's very likely that we'll see even more online interactions between buyers, sellers and agents moving forward. The pandemic has essentially been a litmus test for how well the industry can operate in such difficult circumstances, and it has emerged with flying colors.

Inevitably, of course, there will be some sellers and buyers who will have had no alternative but to delay their intentions as this situation progresses, so we can also expect to see a degree of pent up demand once we're all able to move around safely and freely.

Although the Coronado area is not especially reliant on the mortgage market, it's interesting to note that home loan applications have been on the rise nationally, indicating that interest in purchasing is growing again and that can only cascade through the entire home selling chain.  

In the meantime, however, it's absolutely possible to move or sell a home right now. Why not contact us at 619-886-0175 for an informal chat about how we can turn things to your advantage.

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