Friends and
clients –
Is everyone
maintaining at least a shred of sanity? We’re doing our best at The
Larkin Group but it ain’t easy!
Coronavirus
kicked pretty much everybody’s butt even if we never get within 6 feet (did you
see what I did there?) of the actual virus.
And because the
last economic meltdown still haunts our memories, folks are asking questions
about what this all means for our home values and whether another housing
crisis is looming.
We don’t think so. But we’ve got real answers. Unvarnished. And I think it will
help. First, our video on the topic of Coronavirus potentially helping our
market!
At the Larkin
Group we are BOTH taking this crisis seriously, and at the same time, staying
optimistic about the future of our St. George real estate and economic
markets.
Contrary to
what loads of unprepared, airy-fairy Realtors believe, it’s possible to do
and feel both at the same time!
Here’s what
you need to know:
- People are still
buying and selling homes. Every day. Thankfully, we’ve closed 21 transactions
for our real estate clients since March 1, and we’re just a tiny percentage of
the total market. If you’d like a list of those homes I will be happy to share.
- That said, FEWER
people are currently buying and selling, and why wouldn't they be? The
world is closed. Your gym is shut down, you can’t go to the movies and the major
media is on a 24/7 fear broadcast. It’s going to affect sales volume
temporarily.
Any Realtor who pretends it’s not affecting the market may be well intentioned, but is sailing down “denial”, and trying to take you with them!
- This is NOT a
housing crisis. It’s a health crisis that's affecting everything. The housing
market, and the economy, came into this crisis strong. The housing market is
actually still strong. See our last video on this HERE.
- If you're selling
a home right now you don't get to ask an extra 5-10% "just to
see what happens." This is a time to be SERIOUS about your pricing,
which is still likely much higher than it was 2 years ago, and take
advantage of current values.
We can help you set the right price so your home actually sells whilst the rest of the market is sitting around wondering what the heck happened.
- This too shall
pass. The big economic "theys" like JP Morgan and company are
predicting a quicker "V"
shaped recovery rather than a slower "U"
shaped recovery.
In other words, they’re predicting a “bounce back” over a slower, “l-a-b-o-r-e-d…recovery.” This is because historically, economic “incidents” that happen rapidly then to repair themselves rapidly, and the opposite (see 2008 crash) is also true.
Could
COVID-19 actually strengthen the St. George Real Estate Market?
This may sound
nuts, but as I articulated in the above video, demand isn’t going away. If
anything, more folks from major metros will start looking at the calamity this
pandemic inflicted on their lives and say, “you know Marge / Bob / Fido,
we’ve been wanting to get outa’ dodge for a decade. I think it’s time to set
sail!”
It’s one
theory. A positive theory. We need positivity in this world.
We are prepared
to do whatever it takes to adapt to the changing market, and help you buy or sell
your property. Period.
Wanna chat?
Grab 15 minutes with Jeremy here: http://www.soldinstgeorge.com/virtual/. Or you can call or text me on my cell at
435-862-8467. I’ll answer any questions you have about the housing market or
your personal real estate situation.
We’re grateful
to call you friends. May the dust settle in your life with the least amount of
corona-crisis possible during this corona-crisis.
-Jeremy
PS – In the event you wanted or needed it, I hereby give you permission to
buy or sell a home, even during a pandemic. I also give you permission to
NOT do so. To pause your plans, cancel them all together, or just wait on the
sidelines. There, it’s done. #permissiongranted 😊
