Real Estate In This New Reality

April 2, 2020

This new coronavirus has brought life to a near standstill, canceling gatherings large and small, closing most businesses and keeping people at home. There’s no doubt, this experience is unparalleled in our lifetimes. Things are changing daily with government recommendations at the federal, provincial, and municipal levels. People must surely be wondering, just when will things be returning to normal and what about the Real Estate market?

A FEW CURRENT FACTS

  • The Real Estate industry has been deemed an essential service by the Province, but pressure is on brokers and realtors to create protocols to protect buyers, sellers and agents.
  • Properties are still being sold and contracts are still being written, brokers are encouraging that it should be done only if urgent and should be done virtually with no in-person meetings or if absolutely necessary, following social distancing guidelines and safe meeting protocols.
  • There is still a very low housing inventory in Muskoka and Simcoe.
  • The price of gas in Ontario and the world is at an all time low.
  • Mortgage rates are as low as they have been in years.
  • The Canadian Mortgage and Housing Corporation is showing more flexibility in their dealings with their insured mortgages.
  • The Canadian economy has always demonstrated good resilience in the past.
  • In Canada and in the United States, the governments have introduced measures that not only address the pandemic but also stimulate the economy.
  • Digital marketing today for listings and searching capabilities for buyer’s has never been easier than it is right now.
  • Remember your professional Realtors are able offer your stability and comfort knowing your real estate needs are still being met in a safe and responsible manner.

Stay healthy and safe!