Dear TCG Community,
 
As the world nervously watches the spread of COVID-19 (Coronavirus), the pandemic has prompted responses from every industry.  Events, businesses, social gatherings and concerts have been cancelled, postponed or impacted.  How then, has COVID-19 affected the real estate market, especially as we enter what was primed to be a strong spring market?
 
In the hardest hit counties in the nation, such as King County, Washington, realtors are reporting that homes are still being bought and sold like normal.  Though there has been the occasional seller cancelling an open house or removing a listing entirely, properties are still moving and buyers and sellers understand this market has something to offer everyone.
 
Interest rates have plunged to lows never seen before – (an average interest rate of 3.29 on a 30 year fixed rate mortgage) and inventory is still low – making this an incredible seller’s market.  Yet there are benefits for buyers too – last year’s times of multiple offers and high competition have eased a bit allowing some buyers to finally have a chance to have their offer picked and to purchase the home they want.  The pause in our world’s fast pace is also affording a bit of a pause for buyers to truly consider if the property they are bidding on is the right one for them – and they are able to make even better and less panicked and hurried decisions about their home purchase.  Additionally, the stock market may have dropped 30% but home values continue to rise – affirming that real estate remains a solid investment alternative. Our Texas Real Estate market continues to thrive.     
 
The health and well-being of our clients, employees and communities as well as providing uninterrupted service to our clients are our top priorities as we continue to closely monitor and respond to the COVID-19 pandemic. As the effects of COVID-19 continue to evolve, we want to reach out with information about our efforts to ensure the safety of all involved while continuing to provide service to our valued clients.
 
Our Team is available for business.  We are here for you and will communicate with you should there be any changes to our normal business process. 
We’re committed to being your partner and navigating through these unprecedented times together, so please let us hear from you with your questions.
Ultimately you have to determine what’s right for you as a homebuyer or home seller.  Our job isn’t to push you into making a bad decision, but to ask the hard questions that will help you make a great decision. 
 
It's important that we listen to the medical professionals who are working hard to treat the infected and develop a vaccine.  We must all do our part to slow the progression.  With that in mind, here are some protocols:
 
*Wash your hands with soap for at least 20 seconds
*Avoid public areas unless absolutely necessary
*Stay at home if you’re sick
*Stay at home if you’re in the high risk category
 
Every market provides opportunities, and this market might be yours.  We are happy to offer you a virtual consultation – there’s no need to meet in person.  We can discuss your specific needs and help you determine if now is the market for your real estate sale, purchase or investment.
Much of our real estate work is being performed virtually.  With the pandemic in mind, we are offering the following solutions:
 

1. Zoom calls – virtual consultations for sellers and buyers to answer questions and assist with real estate plans
2. Virtual open houses – Facebook live open houses that are strongly marketed and promoted via social media and the MLS
3. Videos for all our listings so buyers can more easily see the floorplan of the home and narrow options to 1-2 properties to physically visit
4. Sanitation activities to include disinfectant use, sterilizing surfaces, gloves and masks as needed for showings, inspectors, appraisers and other contractors
5. Limited times for showings
6. Remote closings with mobile notaries – available at your work, home or office - drive thru closings or outdoor closings
7. Electronic signing for paperwork
8. Increased communication and individualized assistance for unique circumstances with clients
9. Ability for entire purchase and sale process to be done virtually – lending, home search, title, closing, etc.