From COVID to the injustices being brought to light, we are seeing massive change everywhere. Our hearts are breaking. We know this can be overwhelming. Perhaps we are coming undone because we need to be creating something different.
At MikkiMoves, we want to be proactive about bringing about the much-needed change to our neighborhoods and communities.
- We are committed to being welcoming and supportive to everyone, no matter their race, religion, sexual orientation, economic status, or background.
- We are taking proactive steps to become educated on the pervasive issue of racial injustice, and how that can impact the process of buying or selling property.
- We want to show up, actively listen, and lean into the hard conversations around race.
- We want to take a stand for needed changes.
- We are committed to speaking up against injustice, racism, and discrimination.
This will be an ongoing process. We invite each and every one of our clients and community members to engage in this process with us.
So Many Changes
From how people are buying to the type of property they are looking for, real estate is changing for sure!
With so many people working from home, a home office is becoming a must for homebuyers. Front yard patios and outdoor spaces may become the “new room of the decade”. Homeowners can have guests over in the front yard, sitting safely apart, and never have to go into the home just to visit for a short period of time. Perhaps a front hall half-bath will be the next need?
People are also seeing the value of home gyms, game rooms, backyard open space, and decent kitchens. And there are signs of dense city populations being in overdrive to find a home in the country.
The need to shelter in place has made us rethink what is most important—and what they want in their next home!
The transaction itself is changing too. Buyers and sellers meet our agents online for virtual tours and walkthroughs. Meetings are held by Zoom or similar video phone options. Documents are signed with digital signatures from your computer. Sellers are making sale properties vacant to make showings easier. In fact, last month, 13% of the homebuyers surveyed in California bought a property without seeing it in person first!
We have a strict protocol to keep our buyers, sellers, and agents safe from COVID. Showings come complete with masks, gloves, booties, hand sanitizer, and Lysol wipes. No paper flyers are allowed to be distributed, and only 2 people at a time can see the property.
Protocols and recommendations are changing on a weekly basis, so reach out to your agent about the current rules to see how you can be prepared before going to a showing.
Summer seems to be the new spring
While all these changes are challenging, and slow us down a wee bit, the mortgage interest rate is very low, and the lending industry is very busy!
More inventory is coming on the market, but with so much buyer demand, the market remains in a “neutral state”. Sellers are holding firm on pricing in most situations, while buyers are also thinking that it may come down in price.
The outskirts of metropolitan areas are actually seeing an increase in buyer demand, and if a property is priced right, there are usually multiple offers, which can help a seller get more.
Summer does feel like the new spring selling season this year. We had a pause, but now we are busy and despite the hot weather, it feels like March!
Commercial real estate is expected to change as well. Large companies are finding that many jobs can be managed remotely, so the need for space is changing. I am hopeful that some of the large empty commercial buildings we are expecting to hit the market can be utilized in a new way for affordable housing and mixed-use villages.
Business opportunities are available at great prices, again, as uncertainty and financial stress impact a business owner’s desire to pass on a legacy at a bargain.
Did you know that MikkiMoves can help you in all areas of real estate? While we meet most of our clients on their residential purchase or sale, we keep working with our clients for other needs in their lives. From investment properties, 1031 exchanges, commercial, farms, and business opportunities, we can help make any of those transactions happen! As a team, we pull in the brainpower of all our agents, to help in all kinds of situations for real estate. Just ask!
We have no idea how much this market will last. These unprecedented times really make my crystal ball difficult to read. A lot will depend on how these events play out, what happens to the mortgage market, and overall consumer confidence.
There is always a story behind why people buy and sell. As we come out of Shelter in Place, we may see more divorces (or babies😉) and people will need help with their family estates as their elders pass on. (By the way, for divorcing families, ask us about our added services with individual appointments to help during this extra challenging time.) No matter what you need, or why the reason, when it comes to real estate, we are totally here to help!
I want to shout out to our growing team of professionals at MikkiMoves! In Humboldt, we won “best of the Northcoast” in the Times Standard Real Estate Section in 4 categories! We are honored to be able to serve our community and so appreciate your votes!
And despite all this craziness, we are still growing our team with superstar Realtors. Our new office in Montgomery Village will finally open this month, and we hope the Stay at Home orders are lifted as we are able to open our doors. Most of our appointments will still be virtual to keep us safe, but our agents are excited to have a quiet space to work in—working from home can have its challenges with family distractions during the day. Of course, we are committed to our family and health first policy with all our agents. Our team is stronger than ever and ready to support each other and allow our agents to have a life while our clients get extra support and attention.
Thank you for being part of our real estate journey. Our lives are richer for connecting with you and serving you.