COVID-19 UPDATE
Covid Update August 2020
Some main changes and updates we've gone through since Covid:
Allowance of Docusign and digital signatures. This has proven exceptionally helpful!
Open houses were cancelled for a period, they are now allowed again with different rules depending on the seller’s comfort level. Some agents are only allowing one group in at a time with a lineup formed on the sidewalk outside, and other agents are doors wide open.
Showing of homes never stopped. It's mandatory that you answer the standard health questions, that showings do not overlap, and that sanitizer/masks are used when required. Masks are not mandatory unless requested or personal choice.
Real Estate is deemed an essential service
At the beginning of Covid it was mandatory that showings did not overlap, and each buyer was given a 30 minute window. Over the summer rules relaxed depending on the seller’s personal choice. Showings could overlap and buyer agents were able to book one hour time slots.
As numbers continue to climb, it is expected that spring rules will come back into effect.
I am forever grateful that real estate is considered an essential service. Throughout a time of such unknowns, I have been able to continue working and making a living. The situation changes fluidly with the rest of the province and country, with realtors being updated from our brokers and board when required.
Covid Update March 2020
We’re all in this together. A saying that is coming up often, and it should be. This past week has reminded us all how connected we all are both emotionally, economically and socially, how interdependent we are, and how ultimately, uncannily, beautifully the same we are.
People have taken to zoom, everyone is offering online classes, parents are rallying together sharing craft ideas, online learning tools, and our government is doing it's best to navigate this epic situation offering financial help and sound advice.
As always, if you're able, support your local small businesses that are doing their best to keep heads above water. Rent gym equipment and do online classes with @thecommunitygym. Join my friend Noah for online classes at @pegcityyoga. Order some delivery from your fave local restaurant spots.
If you're needing financial help here are some programs to look into. If you've been laid off typical EI claims have been fast forwarded. Apply online via Service Canada. If you don't qualify for EI, The Emergency Fund will start in April that is $900 bi-weekly done through your online CRA account.
All 6 big banks are offering mortgage deferral for 6 months if you are at risk of bankruptcy. I believe you can apply on-line for most banks, as wait times on phone call holds are LOOOOOOONG .. so go on-line first and see what options there are.
Remember, each and every single person is affected by this emotionally and financially. No one is getting out un-scathed which means we're all in this together. Won't it be a wonderful thing when we come out the otherside of this, having time to reflect on what makes a good life? Perhaps we're going to feel much different in 6 months .. A friendly Norwegian proverb as a reminder to you. "A love that goes like this .. it will either go well, or it will pass." This too shall pass. If you need anything, msg me. I'm at home on my stationary bike trying to stave off the "quarantine 15".
Covid Update March 2020
Needing to sell soon and worried about the state of EVERYTHING?! Here is some inside info to navigate some new systems that have been put into place, and how to help guide you through this time!
An unprecedented time calls for extra measures, and having a tech friendly realtor on your side is A+++ right now. For listings I can not only have 40 MLS photos online, and a walk through video, but we will be armed with Matterport 3D tours of the home AND potentially hosting a FB live "open house". FaceTime, Skype, and Zoom are all apps to utilize for "showings" as well. Let's use our tools and take people through your house without even physically needing them there!
As it stands, ALL OPEN HOUSES are cancelled but showings are to continue with caveats. Agents are to confirm that no one has travelled in the last 14 days, is sick, or come into contact with someone with Covid19. Showings are to happen ONE group at a time in a home, and if it's busy and a 2nd group arrives, they are to wait outside.
Agents are armed with sanitizer and wipes, and everyone will be washing their hands as they can. To limit things being touched in homes I recommend keeping all the lights on (then no one has to touch light switches) and closet doors open (to see inside closets) depending on how tidy the closets are!
Current stats in our market that I just received today are that sales are remaining consistent with 2018, but new listings hitting the market has decreased by 37%. What that means is there's almost HALF as much competition on the market.
Current interest rates are slightly higher than what they were a few weeks ago due to spikes in bonds. The consensus is rates will come down again in a few weeks.
Currently buyers affordability has been increased with a new 30 year amortization allowance, and the qualifying rate is at 5.04% down from 5.19%. I hope this helps, and of course if there's ANY questions you have, any time, please reach out to me via DM or text.
As we social distance ourselves for the short, foreseeable future, my thoughts go out to everyone affected and feeling the stress.
As we are forced to slow down it's a beautiful time to turn inward and focus on ourselves. What have I been putting off? What's on my personal care to-do list? A great place to start is this at-home 7-day practice from @theprairiecollective. They are an event-based business here in Wpg feeling the crunch, so are offering this 7 day home practice as donation-based … whatever you can spare. It's important to keep the entrepreneurs going during this trying time and support if you're able. I hope you can join me!
We left last Thursday to see my parents in Florida. At that time the travel advisory was low. While we were in the air everything changed.
Canada's official statement was to come home. So we booked a return flight. We're home now and on day 4 of self isolation. Our neighbour did our grocery shopping, and delivered some wine yesterday. Whew!
So, what's happening with our real estate market? Do I wait to sell? Do I still sell this year? Do I wait to buy? Should I buy while rates are low? As professionals, we wish we could predict the future!
For sellers, the common advice is if you don't HAVE to sell, then wait. HOWEVER, there is minimal inventory so competition is low, and rates are so low that buyers who have more stable jobs, or NEED to move, will still be shopping. Could our spring market delay to summer/fall? Most likely. Do you want to list once everyone is given the green light and rush to the market? No. It comes down to a seller's own decision, weighing the pros and cons of what we know now, and what might change in the future.
All offices are taking safety precautions. Asking buyers or sellers if they've travelled recently. Don't share pens. Bring sanitizer to showings. Do virtual showings. If you're a seller, disinfect after showings. The more we do now, the sooner we can all go back to life as normal!
For buyers - buying a house likely isn't a top priority when your workplace may be cutting back, your kids are home from school, the future is uncertain. My advice is that it's good to keep an eye on the market still, JUST IN CASE that one pops up. Have your realtor do a virtual walk through for you via FaceTime or Skype. If it's a winner, see it in person. Be diligent with hand washing after seeing homes. Write offers via email. We live in a world where we can easily get along via the internet and phones 🙂 As I tell all my clients who are buying, don't be stressed, it’s okay to wait if the time isn’t right for you, there will ALWAYS be other houses out there!
Be safe. Exercise. Read. Clean out closets. Video call your friends 🥂 Play online Crib or scrabble with friends. We've got this 🙌🏼 You've got this. Keep calm and carry on, from the comfort of your homes for a while 🏡 xoxoxo Amber
