I hope you and your families are continuing to be well during this pandemic. I wanted to give another update on the situation as it relates to our real estate market.

The board of real estate has issued confines around the way business is to be conducted in the event there is a need for a move before the shelter in place order is lifted which is described as someone ending up with no home if they can’t look. This “essential” label on real estate originally related to “unoccupied homes” which was then revised to “vacant homes” after much confusion created by the vague wording the CCAR issued. This has resulted in many agents putting homes that are vacant (and ready to go just before the SIP was ordered) in the mls and has buyers perusing them virtually and of course hoping to see them in person. When virtual means are not available we are required to issue and have signed, liability paperwork which I have included as an attachment before a showing can be done. Mask and gloves need to be worn as well as sanitizers being available at all showings. I am including below the general wording of the exceptions regarding showings of vacant property.

My goal is to demonstrate care for the health and well-being of my clients and colleagues in reducing the risk of exposure to, and spread of, COVID-19. The Contra Costa Association of Realtors has set forth the following guidelines:

Whenever possible, all aspects of a transaction should be completed through virtual interaction.

In-person contact is strongly discouraged.

If a virtual encounter is not feasible, entrance into a property may be made only under the following conditions: (1) ONLY if the property is vacant; (2) by appointment only; (3) with no more than TWO visitors from the same household escorted by the agent.

Only a single agent and no more than two other individuals are to be in a dwelling at the same time during a showing. If other persons are necessary for a showing, they should wait outside or in their vehicles to observe the social distance guidelines.

Contact me for the form, Coronavirus Property Entry Advisory And Declaration, which needs to be signed prior to showing property.

We are seeing a handful of pending sales (even some pendings over asking) and closings of sales that were pending when this began.

From my vantage point, for the most part, most buyers seem to be on the sideline waiting to see what is happening with this market before making a move and anticipating more inventory to hit once the shelter in place is lifted. If they were to do something most want to be compensated in the form of an attractive sales price (discounted). Most sellers are unwilling to accept substantial reductions in price with such low interest rates and at such an uncertain time in the market. As you can see, this isn’t the easiest of situations!!

I do feel there will be pent up buyer demand and there will be a lot of inventory once this is lifted.

Please feel free to let me know if you have any questions.

Thank you and stay safe and healthy,

Ann