Roller Coaster Ride
Robin Blass talks about real estate during COVID-19.
What a roller coaster ride this has been! It took off fast, and I wasn’t quite sure what was coming next or if it this ride would ever stop. By that I mean, all of the sudden I had four deals that were under contract and suddenly they had fallen apart. One was an all-cash deal, and the buyer lost his money in the stock market and was not comfortable closing; the second deal the buyer lost his job and no longer qualified for the loan; the third contract, the buyer simply got cold feet about the economy and terminated; and the fourth, the buyer was furloughed and was no longer confident about purchasing at this time.
That was the first seven to 10 days, then I came to the realization the real estate market is going to continue to operate! Buyers and sellers are still going to buy and sell. The difference is now we practice SAFE real estate. All my listings have masks, gloves, booties and sanitizing wipes. I’ve placed signs with clear instructions to wear all protective gear before entering and to not touch any light switches or door handles while touring the home. In the listing services, I’ve added remarks stating that if anyone is exhibiting symptoms of COVID-19, please do not enter this home.
During COVID-19, I am still seeing bidding wars on some listings, new listings are coming on the market, and properties are closing. Mortgage rates are at the lowest they have been in years. Appraisers are now allowed to complete appraisals without entering the property by taking pictures of the outside and doing drive-by appraisals. Lending institutes are allowing DocuSign signatures instead of actual signatures. Closing attorneys are practicing social distancing and closings are happening in the parking lots of offices and personal home garages.
Real estate is and will always be a people business, building relationships. My hope is that we when return to some kind of normalcy, we take the lessons we’ve learned and are able to help our clients in new and better ways! Please stay safe.
Robin Blass is an agent with Coldwell Banker, a No. 1 agent Coldwell Banker Atlanta in 2018 and the Perimeter office 1992 to 2018, and a Top 10 of the Atlanta Realtors Association 2018. She can be reached at www.robinblass.com or robinblass@blassprop.com.
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