How could this pandemic affect the real estate market in the period following the reopening of our economy? Do sellers expect less and will they change their expectations in terms of price?
How many potential buyers may no longer feel comfortable, in terms of the personal comfort zone, making an important economic purchase after this long period of consumer fears, income interruptions.
Will potential, qualified buyers feel comfortable going to Open House in the short term? What other strategies and approaches may be needed? Will banks, lenders, and the government aggressively support, helping real estate industries.?
How will commercial properties and their desirability, be affected? With this in mind, will this article briefly attempt to consider, examine, review, and discuss these factors?
1. Sellers and buyers, expectations, comfort zone, flexibility.
How many homeowners might decide to downsize to have more immediate, available money for emergencies? Will their priorities, change? Will buyers feel comfortable taking on such huge economic commitments after the recent extended period?
How many homeowners, they might hear, have to sell, due to changing financial circumstances? How will people’s comfort zones become essential factors? Will buyers lower their standards and/or expectations/requests and lower their purchase price range? How will supply and demand change things?
2. Marketing/sales strategies
will virtual projections become the norm, at least in the short term? Will real estate agents change their marketing and sales strategies to respond to new concerns? Will, we attend a smaller number of Open House, due to concerns, in terms of social DIstancing,?
3. Mortgage rates
How could the government and RBI, deal with these problems and create circumstances in which mortgage rates are kept at an attractive and low rate to support housing? market, an important component of the global economy? Will they ask for less down payments and will this create a potential housing crisis in the future?
4. Commercial real estate market
will larger stores become the equivalent of tomorrow’s real estate dinosaurs? Will shopping malls become much less popular? How many restaurants and other real estate establishments go out of business due to current economic stress.
Will shopping malls become more popular? How many companies could realize, can do more, remotely, and therefore reduce their space? How many may not be able to afford public health needs and guidelines in the future?
If restaurants are often challenged in the past, how can they afford, lower occupancy rates, How will the bars, have to adapt or perish?
5. How will real estate activities be conducted
How could the real estate business of the future appear and be different from the pre-pandemic one? How will the real estate sector be different in the future? Will you be one of the wise, ready, willing, and able people to respond and proceed in the future?