The Coronavirus crisis has hit the world with unprecedented intensity—causing widespread sickness and death the likes of which we haven’t seen in a long time. In the United States, the risk of contracting the virus is already changing the American way of life in myriad ways, much more so than even the September 11 terror attacks did nearly two decades ago. Efforts to contain the pandemic have made necessary many never-before-experienced quarantine measures that have virtually made industry grind to a halt.
Many potential homeowners who were in the process of looking over homes for sale are now dragging their feet on the transaction. Even those who were just a few months ago keen on acquiring a home in Noe Valley have understandably chosen to take a wait-and-see stance and act according to how the economy responds.
Finding ways
A lot of would-be property buyers are being a lot more cautious. They are taking stock of their financial positions given a situation in which many are currently suffering a major shock in income. As we all know, businesses have been put on hold, putting millions of people out of work for at least several weeks.
Property owners have also been feeling the crunch. Tenants have been having difficulty paying their rent and many have requested for some leeway if not an actual rent holiday. To keep things moving, many landlords have agreed to modified payment arrangements to enable their renters to stay where they are.
For those seeking financing to purchase properties like, say, one of the St. Francis Wood homes for sale in California, the process no longer entails a series of face-to-face meetings and handshakes with brokers, vendors, and officials of financial institutions. The necessary social distancing to prevent the transmission of infectious pathogens is now observed by holding requisite meetings on online video conference platforms.
Likewise, online technology is now the norm. House hunters take a good look at properties such as Pacific Heights homes for sale without needing to drive onsite and expose themselves to the virus. Real estate brokers provide potential buyers with interactive virtual walkthroughs of properties for sale with the use of a cellular phone or any other mobile device with good internet connectivity.
Prior to giving buyers a personalized tour, brokers advertise the property by preparing a pre-packaged video marketing presentation. This is what they send out to potential clients to view online, or they simply post it on web pages or on social media sites.
Get help
These processes may seem to many as simple and straightforward. However, the many issues to consider in purchasing a property in California at this time makes the knowledge and services of industry experts even more important.
A good real estate broker would be the best person to ask about financing options and the changing trends in the market. This information will continue to be indispensable in the forthcoming weeks and months.
Ready to put your home on the market? Work with the top San Francisco real estate team to have your pick of homes for sale today! Get in touch with us at 415.602.0570, or send an email to amir(dotted)hardy(at)compass(dotted)com.