It’s a new world, for now. Hopefully the COVID-19 (coronavirus) outbreak ends soon and we can get back to business as usual. I’m not going to get into the economics or the social impacts. There’s enough of that in the news.
What I do know about is that so far, two things are true: There is very little inventory all around the Puget Sound. From Seattle and the Eastside to our area of Poulsbo (Kitsap County), it’s slim pickings.
Interest rates (today’s rates) are still super-low. Tech is still booming in the area. And while I don’t know how hiring rates will be impacted by the effects of the virus, I do believe our area will be somewhat insulated. My crystal ball (ha!) suggests the big tech companies (Amazon, Microsoft, etc.) and other big companies like Starbucks probably won’t be going away anytime soon, even if hiring slows.
Boots on the Ground
While none of us know how this is all going to shake out long-term, it seems that for now, buyers are still out looking for homes. Renters are still moving.
In the last couple weeks as the news has gotten more dire, things feel more subdued, but open houses are still happening. Homes have been listed, and gone under contract.
Interest and showings are, so far, pretty normal for this Mercer Island rental home. We just stand farther apart, and make sure to sanitize hands often.
What Would You Do?
I’d love to hear from the buyers and sellers out there! Are your plans to buy or sell changing in the face of the coronavirus outbreak? If you are still out looking at homes, are you doing anything differently?
Those who have been thinking of selling: Are you changing your timeline, perhaps bumping a listing to a later time? Maybe waiting until you’ve moved out, instead of living in the home while on the market?
Talk to Me
Drop me a line. I’d love to hear your thoughts. In the meantime, stay safe and healthy!