[email protected]
Cell: (508) 735-5161
www.EQRE.com
Elaine Quigley, CBR, CRS, GRI
The world may be on “pandemic pause,” but real estate professionals continue to work hard whether they are in a hot real estate market or a very troubled one. Realtors are still finding a way to help home-buying prospects and clients connect with their real estate dreams.
Which of the current real estate trends describes your next “dream” step?
Less expense & more relaxation trend
Residents of crowded, expensive cities like New York City and San Francisco move into low-stress, less costly areas, like a move from California to Idaho. A recent survey revealed that 39 percent of urban Americans are considering a move to a less crowded, less expensive location as a result of the pandemic.
Less flu & more sun trend
Those who fear COVID-19 and the also-dangerous flu during winter months when cold forces people inside together are moving to warm, less confining areas like Florida.
The 2020 Miami Report states that roughly 950 people a day move to Florida and many come from cold Northern cities in New York, New Jersey, and Connecticut.
Less cost & more security trend
Adult children move in with parents or relatives to help all of them do better during the pandemic. A recent analysis of government data by Zillow stated that there were 32 million adults living with their parents or grandparents in April 2020, the highest number on record. More than 80 percent of those who recently moved back in with their parents are Gen Z-ers who pay an estimated $726 million in rent each month. Those payments to landlords – about 1.4 percent of the total rental market – could be at risk if moving home becomes permanent.
Less location & more work flexibility trend
Employers have allowed employees to work from home to protect them during the pandemic.
“We see an incredible 42 percent of the U.S. labor force now working from home full-time,” said Stanford economist Nicholas Bloom. “About another 33 percent are not working – a testament to the savage impact of the lockdown recession…So, by sheer numbers, the U.S. is a working-from-home economy.” Working from anywhere has become a reality. That means no longer paying premiums to live near work.
These trends and more are evolving in our change-a-minute pandemic world. Micro-local trends, like moving within a neighborhood to improve access to a pool or other amenities, pop up in local markets. All this creates a whirl of confusion that can distract buyers and sellers from what makes good sense. This frenzy of options superimposed on social-distancing limbo and pandemic-driven stress may catalyze inadvisable decisions and action in some when “wait and see” or take “a long cool look” may be better strategies as economic shifts appear.
Trends are reflections of what people are actually doing, not what is best or smart for you to do in the long run. Following friends, social media, or any other group behavior may not always, or perhaps ever, be the best move for you – present and future.
Buyers and sellers are free to reach out to real estate professionals for answers, even when they are not quite sure what the right questions are.
Originally, people said “we’re all in this together.” Now, it’s clear that we are all experiencing the pandemic, but how varies greatly with individuals and families. For instance, in many areas, natural disasters including wildfires and hurricane flooding are exacerbating pandemic effects and ramping up stress for everyone concerned.
Regardless of market conditions and in spite of continued uprooting change, real estate professionals remain intent on buyers and sellers making confident decisions they can live with now and once the pandemic subsides.
Before you leap in as a buyer or a seller, your real estate professional has questions they’d like you to consider:
– How solid is your decision? Solid, confident, well-examined decisions move life forward. Avoid impulsive swings, emotional shifts, or a plunge into panic which can undermine everything you hope to achieve. Learn to control your emotions so you don’t jump in before first considering key implications and ramifications.
– How reversible is your decision? When the driving need for change suddenly ends, would you want to revert to your original lifestyle or location? Would trial renting out of your current home and of a property at the new desired location provide a flexible, low-risk exploration of the new lifestyle?
– How many other options do you have? Don’t limit yourself to the options you know. Ask your real estate professional to call on their expertise to help you discover alternatives. Learn how to always be prepared with a new plan when things change unexpectedly.
– What is the worst that can happen? “The worst” must be what you consider devastating, not what others might insist cannot possibly happen. Dig deep to decide what loss would be irreversible and how it could be avoided.
Ask your real estate professional about alternatives that allow you to leap in and restart or refresh your real estate dreams.
Let me guide you in achieving all of your real estate goals. Even in these uncertain times there is plenty of activity with families moving and homes are closing! I will put my years of experience to work for you…. knowledge, expertise, professionalism, reputation 508-735-5161, [email protected].
Elaine Quigley, CBR, CRS, GRI
Cell: (508) 735-5161
