An Open Letter from Real Estate Agents in these Uncertain Times…

That said, it’s not all gloom and doom. There are solid reasons to be optimistic, especially when it comes to housing.

First, this is not a housing recession like the crash of 2008, where the collapse of the economy was tied directly to mortgage backed securities and skyrocketing default rates.

In fact, of the last five recessions, only 2008 saw home values drop precipitously, while they continued increasing in three other instances, and only decreased by -1.9% in (1991).

That’s not to say we’re even going into a recession, especially since forecasts from some of the brightest minds in finance predict positive GDP growth of 12% starting in June (Q3).

Second, this crisis has the attention of the world, and there’s an aggressive push to put an end to it sooner than later. Of course, when we’re in the thick of it, it can be difficult to see the light at the end of the tunnel. But social distancing seems to be working, and nearly every country in the world is dumping massive resources in search of a treatment, and a cure. Almost everyone is doing what they can (or at least have to) in order to give this crisis an end date so everyone can get back to business as usual.

So, while we all struggle to adjust to this strange moment of time we’re living in, it’s also good to keep things in perspective.

Even though the process has been interrupted or paused in some ways and areas, homes are still selling, people are still buying, and the value that you’ve accumulated, by all accounts, is likely to remain.

In short, people still want to buy and sell houses. And while there are certainly many people who will be affected financially due to the pandemic, many others will not. They may not be going into the office, but they’re still employed and doing their jobs—just from home.

So, if you want or need to buy or sell right now, reach out, and we’ll work together to get it done in a safe and socially-distanced manner.

And if you’ve been considering buying or selling your home, and this current environment has made you rethink things, that’s perfectly okay too! We’re here to guide you and answer your questions at any time, not just when you’re ready to list or buy.

We, like you, can’t wait until things get back to normal, and for many of us, simply talking to you about real estate helps things feel normal, so please don’t hesitate to call!

And remember, you’re not alone in this.