First and foremost the Shocket Team wants all of our clients and friends to know that we are thinking about you and your families. We, above all else, wish you health and safety. We wanted to let you all know that we are well and working from our home office. Our company has been an amazing leader as we face these challenges. Many of our clients and friends have asked how the real estate business is doing, so here’s what we know.
We are still helping buyers and sellers close their transactions. We closed on a home for buyer clients last week and will be closing a listing at the end of this week. We did have one buyer cancel due to inspections this week, but this buyer continue to look for another property. Last week we put 2 listings under contract and had 2 buyers get into contract on new homes. We are also in the middle of our own sale and purchase, so we have experienced the market first hand.
Sellers – We have about 6 clients that were preparing to list in the April/May timeline. Some will move forward and some will postpone. That’s okay and each seller will need to decide based on what is best for their situation. Inventory of homes for sales gone up. On March 4th we blogged that there were 553 active single family homes. Today there are 679. Let’s put this in perspective. At the end of March last year there were 892 active listings. So we are still below that number. We will be adjusting our listing procedures to include more ways to view listings virtually, asking some questions of buyers who want to visit our listings and providing instructions for safe viewings of properties.
Buyers – We still have buyers that are actively looking because they need to move. We are doing virtual showings, virtual meetings to review contracts and when needed showing properties using social distancing and safety precautions. We are working closely with lender partners to help buyer navigate the ups and downs of the market which affect rates.
Inspections and closings – the industry is adapting as we handle these key parts of the transaction. Inspectors are wearing gloves and masks and we are limiting the number of people attending inspections. Our title companies have implemented mobile notary signing or virtual signing.
In everything we do we are thinking safety first. We encourage anyone who has questions about the real estate market to reach out to us. If there is something we can do to help you or your family please let us know. Stay well everyone.