Covid 19 and Real Estate predictions

Close-up view of customer signing contract about home loan agreement

How does one even begin to predict the future or such uncertainty?  This one without a doubt took all of us with a surprise. with accepted offer pulling away suddenly. With sellers not knowing if they should halt all expectations or regret why they did not move forward with the last offer before Covid came around. Buyer wondering what hit them closing prolonged but apparently still going to happen. With all this chaos I humble myself and say there is no way to predict an outcome.

There are a few things we do know. Life will continue this isolation will be over and that people will go back to the new normal sometime soon. How will this affect buyer behavior and how will the seller adjust to this change is yet to be seen.

In my opinion and from reading several financial articles it seems the longer this pandemic lasts the longer we will be hit by this the larger the impact.

Again people will buy and sell real estate it’s just about meeting each other expectations between buyers and sellers. This is yet to be seen.

My advice hang tight for another 15- 30 days and if you get an offer close to the expectations take it and run fast.

Faruqi Team