Good Morning Friends, Clients and People interested in Real Estate,

 

I feel like I have a captive audience and some real, first hand on the ground, local information to share with you. As a snippet of what's going on in my own business, this past week I had 2 real estate closings in which I represented the sellers, one in Newport News which closed at $179,000 and a condo in Yorktown which closed at $170,000. These homes both went on the market and under contract far before Covid19 surfaced. However, there were no delays in appraisers visiting the home, appraisals turned in, closing companies doing title searches or lenders funding the loans. Other than sellers signing in their cars per the closing company's request and walk throughs of the homes occurring with social distancing in place, it really has been business as usual.

 

I also listed 2 new homes for sale both in Newport News at $399,000 and $310,000. Both homes have had multiple showings but no contract yet although we hear one might be coming in today. I've done facebook live videos and posted them everywhere possible. We are giving sellers gloves and shoe booties to help prevent the spread of germs. So far agents have done in person showings. 

 

Tuesday evening I wrote a full price offer, $510,000, on a home that came on the market on Monday in Running Man (Yorktown). There were 2 showings the first day and 3 lined up for the second. That's one of those hot areas around here and move in ready homes fly off the market so I prepared my clients on what needed to be done to put our best foot forward and secure the deal! 

 

While the mortgage industry is volatile, real estate is not. As of today for our local market, it is slightly slowing down but certainly not stopped. Don't let the media stories fool you! Here is a fantastic easy to read article about the mortgage industry and how the virus has affected it: https://spark.adobe.com/page/uMzfR8BqamyTT/