We hope you are all safe, healthy, and comfortable. With all
appropriate safety procedures in place, we are here to help and support you with all of your real estate needs.
Adapting & Conducting Business Safely
We've gone virtual! Our clients are engaging with us via FaceTime and Zoom, taking 3D virtual tours, exploring videos, and more. Once a client is seriously interested in a particular home, we arrange safe socially distanced showings with all recommended protocols. Our home inspectors, lenders, and partners at our preferred settlement offices have all developed new procedures and efficiencies, offering an entirely online process or with absolutely minimal in-person interaction while distanced/masked/gloved.
Improvement in the Market
In an update from one of our lenders today, they're seeing historically low interest rates, as low as below 3% in some cases. Freddie Mac and Fannie Mae have not changed their requirements so buyers are still able to obtain mortgages as they previously could.
Searches for properties dropped 36% during the peak of COVID-19. However, our data is showing the number of buyer searches is steadily increasing. In fact, in the 135 cities where we operate, last week Compass saw a ~20% week-over-week growth in new listings and listings in contract / pending.
The market is active, and we are working together through this unique and challenging time.
Martin, Jeff, Olivia & Dito