At the time of this writing, New Jersey (my home state) has just instituted a curfew between 8pm and 5am, with, New York, Connecticut and other states to likely follow suite. The #COVID19 virus has ushered in an unprecedented time in our history marked by fear and uncertainty, leaving financial markets, the service industry and many small businesses in its wake. It remains to be seen how the real estate market will respond but my gut tells me historically low interest rates will not be enough to calm the fears of buyers and sellers, who otherwise would be entering into the usually busy spring market.
As the great John F. Kennedy once noted “The Chinese use two brush strokes to write the word 'crisis.' One brush stroke stands for danger; the other for opportunity. In a crisis, be aware of the danger--but recognize the opportunity.” If you've been planning for the 2020 spring market and have the stomach to apply this important life lesson, you may be at an advantage. For one, buyers who halt their search due to the crisis will lessen the stiff competition in the market due to low inventory, leaving you in a more favorable position. Plummeting interest rates will give you more purchasing power and help you secure such a favorable interest rate that you may never need to refinance. Lastly, real estate remains one of the safest investments you can make and if you're willing to live in a multi-family dwelling, a savvy realtor will be able to help you hedge your investment by leveraging the rent of others.
If you're still looking for your home, let's put a plan in place to help you achieve your goal. I have all the tools to help you navigate the market place all while maintaining #socialdistancing. Go to my Booking page and book a 15min zoom or phone call today.
Well said. Time to start the search for a multi-family in NJ while I'm socially distanced abroad... can't wait to work with you.