Is The Spring Selling Season Dead?
Listings are being cancelled or withdrawn. Open Houses are gone or going. The outlook for the virus and the challenges of being protected look beyond the stay home order expiring April 4th. Work at home, no school, outside activities are all having a dramatic impact on our lives
Will this change the way we knew our lives and the way we lived? Is this the "New Normal"?
Does the "work at home" start a new normal? Will employees be able to be productive with working at home? Will working at home change the value of home prices? Will those working from home find that they can do so in a less expensive area.
All that is yet to be determined. It is my belief that home prices were influenced by incomes and the stock market. The growth stocks of Silicon Valley are down 25-50%. Are you willing to pay the discounted rates as much as you were willing to pay the higher prices of January 2020? Do you feel that home prices should stay high and go higher if your income is impacted and your portfolio has declined?
Will our economy move higher and when? Will the $1-2 trillion in stimulus turn our economy. If these are questions that you need to answer will you pay list on a house and if you want to sell are you confident you will be able to sell at a price that was common last month?
To many buyers and sellers there are questions they need to answer for themselves. For the person or family who have long term employment here in Silicon Valley the answer is clear they will buy. Do they do so now? Home prices will come down, but how far?
When the 2006 crisis occured Palo Alto was strong, Atherton prices were strong Menlo Park were strong. Yes there were situations in which a deal could be gotten; but over all, the prices of those communities remained in demand.
Remember you are buying your home, not a stock option or in index fund.
Will buyers look elsewhere? Will buyers continue to rent? I think renting will soon become challenged as home prices decline. The massive apartment construction project could find them without renters and may end up like the Excite Campus on 101 that remained empty for years.
I expect that moving out of California will continue. We have already lost one Congressperson due to out flow. Will movement occur?
In the present situation I cannot see why I would stay other than I have a business that pertains to local buyers and sellers. What is your situation? I have worked out of my home office for years. Real Estate Brokerage Firms & Offices have closed or down sized. Agents can work outside the Brokerage office at a discount to paying desk fees. Sellers and buyers look more to the internet to find a home or realtor. Sellers do not want a door knocker, post card, door hanger. Who knows that realtor may be passing on COVID 19.
I still believe home prices will decline before they ever go up again. Do you think so? If you do, let's discuss on the phone, email or text. Become part of the Cloud, that is where homes will be bought or sold.
I am here to help you and help answer your questions and concerns, Call, Text of Email me.
Gary
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Will this change the way we knew our lives and the way we lived? Is this the "New Normal"?
Does the "work at home" start a new normal? Will employees be able to be productive with working at home? Will working at home change the value of home prices? Will those working from home find that they can do so in a less expensive area.
All that is yet to be determined. It is my belief that home prices were influenced by incomes and the stock market. The growth stocks of Silicon Valley are down 25-50%. Are you willing to pay the discounted rates as much as you were willing to pay the higher prices of January 2020? Do you feel that home prices should stay high and go higher if your income is impacted and your portfolio has declined?
Will our economy move higher and when? Will the $1-2 trillion in stimulus turn our economy. If these are questions that you need to answer will you pay list on a house and if you want to sell are you confident you will be able to sell at a price that was common last month?
To many buyers and sellers there are questions they need to answer for themselves. For the person or family who have long term employment here in Silicon Valley the answer is clear they will buy. Do they do so now? Home prices will come down, but how far?
When the 2006 crisis occured Palo Alto was strong, Atherton prices were strong Menlo Park were strong. Yes there were situations in which a deal could be gotten; but over all, the prices of those communities remained in demand.
Remember you are buying your home, not a stock option or in index fund.
Will buyers look elsewhere? Will buyers continue to rent? I think renting will soon become challenged as home prices decline. The massive apartment construction project could find them without renters and may end up like the Excite Campus on 101 that remained empty for years.
I expect that moving out of California will continue. We have already lost one Congressperson due to out flow. Will movement occur?
In the present situation I cannot see why I would stay other than I have a business that pertains to local buyers and sellers. What is your situation? I have worked out of my home office for years. Real Estate Brokerage Firms & Offices have closed or down sized. Agents can work outside the Brokerage office at a discount to paying desk fees. Sellers and buyers look more to the internet to find a home or realtor. Sellers do not want a door knocker, post card, door hanger. Who knows that realtor may be passing on COVID 19.
I still believe home prices will decline before they ever go up again. Do you think so? If you do, let's discuss on the phone, email or text. Become part of the Cloud, that is where homes will be bought or sold.
| Bubble Watch: Coronavirus may clobber ‘overvalued’ housing markets - "The broad spread of coronavirus in the U.S. will slow down home buying activity, leading to a temporary drop in demand and lower home price growth, " Fitch wrote. "A widespread and protracted period of containment could result in larger disruptions... Read More |
I am here to help you and help answer your questions and concerns, Call, Text of Email me.
Gary
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