Keeping It REAL - by Bettsy Tyler

This is a graph of real estate activity from Santa Clara, Santa Cruz, San Benito and Monterey counties. Though each county has their own particulars, in general the 100 data points since our first days of SIP shows good signs of recovery. New listings are close to  where they we would expect them to be this time of year if it were a "normal" year and sales are catching up as well. June numbers will be out next week which will be good to compare with last year. Because we are seeing the pending sales increasing this month particularly in the Santa Cruz region, I expect the summer will be more like the usual Spring selling season. Where Summer usually has a little slow down with many people taking vacations and being away on various activities, I am curious to see if this year we'll see something different. 

Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put thei r moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year. 1  Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season. 2  But given safety concerns and the current economic climate, is it prudent to jump back into the real estate market?  Before you decide, it’s important to consider where the housing market is headed, how it could impact your timeline and ability to buy a home, and your own individual needs and circumstances.   WHAT’S AHEAD FOR THE HOUSING MARKET?  The economic aftermath of the coronavirus outbreak ha

Covid-19 has definitely had it's effect on the real estate market.  Compare last years "new Listings" with "Sales" and it is clear that March 2020 was very different than March 2019. When the Shelter in Place order went in, listings came off the market and sales slowed. The real estate community quickly implemented new ways to show houses. Our own office bought special cameras to generate a virtual walk through a home to "show" the home to a prospective buyer without having to actually go to the home. Our equipment creates a picture of the floor plan and combines that with interior photos. Then there are drone videos, and lots of professional photos which make is much easier to see a property on line. The protocols now in place also help to ensure the safety of all clients involved. There are guidelines to follow if and when there is an in-person showing. Hand sanitizer, cleanings between showings, masks and non-touch methods to minimize risk.