Thought on the Current Market - Mar 2020

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Well Denver, this spring sure took a turn for the...interesting. We’re under official “stay at home” orders and there is a lot of uncertainty going on right now. As with many other industries, the real estate world has changed drastically in the past few weeks, and even days.

In order to continue to operate safely, the industry has adapted A LOT...utilizing technology to meet with clients + market listings, using an abundance of caution at showings, facilitating almost the entire transaction remotely, and having no-contact inspections, appraisals and closings.

Right now, real estate has been deemed “essential” under the state’s new orders. I’m so thankful my buyers and sellers who are currently under contract will still have somewhere to move into and actually have a place to “stay home” at.

There are certainly several reasons why someone NEEDS to buy or sell at this time – maybe they’ve already bought their next home and need to sell their current one, they’ve already sold their current home and need to buy their next one, their lease is ending, or they have other specific personal circumstances. If this is the case, we can certainly make it happen.

However, in this time of limiting exposure to others it is probably not a great idea to go house hunting for fun, get your feet wet checking out homes, or arranging handfuls of showings. Buyers who are active right now should be serious – fully pre-approved and only seeing a home if they think they may really want to make an offer on it.

It is impossible to predict the future, but we are fortunate Denver has the foundation of a strong housing market. We are nowhere near having the supply to meet the demand. Showings are down, but the number of homes going under contract is near the number of new listings going on the market. We will see what the upcoming weeks bring, and of course I will keep you posted!

Check out this West + Main Homes article about buying and selling at this time.

If you have questions about your specific situation, please send me a message!