Note from DWELL Real Estate about Real Estate and COVID-19
To Our Friends, Clients and Colleagues,
First and foremost, we want to send our love and support during this difficult time. The global COVID-19 pandemic is one of the most challenging things we have had to face as an industry, community and country. While we tread through these unchartered waters it is important not to panic and that we tackle this challenge together as a community.
DWELL Real Estate is proud to have been part of the Sarasota and Tampa Bay communities for many years. Our seasoned and expert agents have seen many different types of real estate markets. From boom to bust and everything in between. We will continue to provide you with useful real estate market statistics and updates.
Fortunately, the real estate market is less vulnerable to irrational, panic selling than the financial markets. In a world of uncertainty one thing hasn’t changed and that is everyone needs a place to live and Florida is still an attractive place to live, work and play. After all, you need to quarantine yourself within the comforts of a home, not a stock or bond.
Naturally, as with any uncertainty, we are seeing many potential buyers enter into a “wait and see” pattern. On the other hand, we are also seeing potential buyers, who were previously waiting on the sidelines, seek opportunities in the market. If we look to past markets like 2007-2010 savvy investors were buying up as much real estate as they could afford when others were fearful. That is the beauty of the free market system.
We believe the underlying fundamentals of Florida real estate will remain good after this pandemic has subsided and the benefits of homeownership might even be more valuable now: stability, safety, comfort, happiness. Inventories in the markets we serve remain tight, mortgage interest rates are low and demand for real estate in our area should continue to remain high. Demand might even increase if people decide to shift assets from the financial markets to more tangible assets like investment and vacation properties.
Our utmost concern at DWELL is the safety of our agents and clients. Thankfully, technology often allows us to show properties without having to step foot into the home with the use of video, matterport and virtual tours as well as multiple photographs. We are available upon request to provide individual showings and our agents are happy to provide online and video consultations, live streaming property tours via Facebook video, Facetime, Skype or What’s App. We continue to monitor and adhere to the guidelines set forth by the CDC and our local, state and national governments.
We are thankful to live in and be a part of such a wonderful community and are confident that we overcome this challenge.