I don’t usually drink beer but this St. Paddy’s day, I’m thinking I might drink a keg myself. Not Corona and lime though. This surreal world we all share is making me a little nuts; okay, a lot nuts. Things move and change so fast with no definitive answers about what next and how it will end. I know you know what I mean.
There is lots of chatter in the real estate world and we’re hearing a wide range of opinions.
- Some agents are saying they are busier than ever due to the extra low interest rates
- Some agents are saying all of their appointments are canceling
- Some are STILL doing open houses (are they cray cray?) and others wouldn’t dare.
- Some prognosticators are saying we’re in for a deep and steep recession that will impact the market heavily
- Others are saying there is pent up demand being pent up and that a boom will follow the resolution to this pandemic.
The only truth I know for sure is that we don’t know. Here is what I do know.
- I just looked at our MLS® system and there are several new listings and several new conditional and firm sales so, things are still moving. Today.
- I’ve been a REALTOR® for 31 years and have seen many cycles come and go. While this is most assuredly an unusual one, so was 911. So was SARS. In every case, the market slowed down and then ROARED back. Those who took advantage of the downturn profited quickly when things corrected.
- I’ve also seen that when the stock market tanks, investors move their money into real estate. Bricks and mortar are solid, can be leveraged and can be lived in.
People still need and want to move, buy and sell. It’s what we people do. We’re also nervous and want to protect both our health and assets. So for today, my thought is that we may see buyers and sellers take a pause in the days ahead but in the end, it’s going to be okay.
While that happens, being kind to one another and to ourselves is the single most important thing we can do right now. Today, I turned off the TV, put on some music, danced and learned my first salsa steps. I Skyped with friends and even cooked. (If you know me, you know that is frightening.) Next up, finding that green beer and saying CHEERS to all the good people out there and to better times ahead.
Marg Scheben-Edey is a Broker with RE/MAX four seasons realty limited, Brokerage in beautiful Collingwood, ON. With three decades of experience, Marg is a leader in the local real estate marketplace and is ready to help guide both Buyers and Sellers in achieving their real estate goals. Email Marg