With the status of COVID-19 in Massachusetts continuing to evolve daily, and as an organization that exists to serve our clients and community, The Beth Sager Group is implementing new systems and procedures in order to do our part in slowing the spread of COVID-19. Below are protocols we have put in place and will be strictly adhering to until further notice: We are taking the following precautions at open houses, showings, and any other events that we hold, including, but not limited to:- Increased availability of hand sanitizer and tissues on premises.- Increased cleaning and disinfection of space.- Encouraging a ‘no-handshake’ policy.- If you are sick or exhibiting symptoms, or have recently traveled to a CDC designated Level 3 country, please do not attend any showings or open houses. We are happy to provide a virtual walkthrough of the tour for our clients.-Leverage technology and virtual capabilities. We cannot emphasize enough how important it is for home sellers and buyers to lean into technology over the course of the next few weeks. All meetings will stay as planned, including variety of virtual options. Platforms such as FaceTime, Skype, Google Hangouts or Zoom will allow us to stay in regular communication with one another.
Homes are still selling! Our Federal Reserve just dropped their interest rate to near zero in order to keep the money moving for people buying homes. It’s quite unprecedented. We’d be happy to offer you a virtual consultation, if you prefer, instead of a consultation in your home.
We would be happy to show any properties on which you are strongly contemplating placing an offer, but if you aren’t seriously considering that property or aren’t ready to go under contract, we suggest holding off on attending showings to keep germ exposure to a minimum. Now is the time to look at properties you love online! If you don’t feel comfortable going to in-person showings and wish to put your search on hold, we certainly understand.
Lawrence Yu, chief economist for the National Association of Realtors, had anticipated about 5.5 million sales of previously owned homes this year (an increase from 2019 and 2018). That’s because borrowing costs have plunged to lows never before seen (e.g., an average interest rate of 3.29% on a 30-year fixed-rate mortgage) and the job market is strong. Obviously, though, no one could have foreseen a virus disrupting market conditions at the start of 2020. Though there has been the occasional seller canceling an open house or removing a listing entirely, the fact remains that properties are still moving; buyers and sellers understand this market has something to offer for everyone. Yes, experts are tampering their expectations for the spring market slightly. The most significant impact is the fact that sellers may be less likely to list their homes right now, which could dampen hopes that significantly more inventory would hit the market come spring and alleviate the supply stress. Conditions that make for a fantastic market for both buyers and sellers still exist— low rates and rising home values. Ultimately, you have to determine what’s right for you as a homebuyer or home seller. Our job isn’t to push you into a decision you’re not comfortable with, but rather to provide hyperlocal context that may be lost in the national media coverage. Our market is still thriving. We continue to monitor the situation, turning to reliable sources of information. These sources include the Governor’s office, MA Department of Public Health, and the Center for Disease Control (CDC). For now, thank you for continuing to engage with us during these unprecedented times. Please reach out to any of us with any questions or ideas.
If you would like a FREE Professional Equity Assessment Report of your home or would simply like to discuss how we can help you achieve your real estate goals, contact us!
1 Militia Drive Lexington, MA 02421
Office: 781-862-2800 Lic# 7995