Lamorinda Market 3.20.20
As of Friday, March 20th, the Lamorinda real estate market is on a firm “pause” while we are observing the necessary SIP (shelter-in-place) until April 8th. We have all heard rumors that this could go on in some form another 30+ days after April 8th.
Homes currently on the market that buyers have already viewed, and homes that are currently in escrow, are still moving forward. Offers in these circumstances are being written, banks are conducting their business (i.e. loans), some appraisers are working, and title companies are working remotely. Sellers planning to come on the market in the next several weeks will be delayed at least a month:
1. Sellers planning to pre-inspect and prepare to sell will be delayed at least a month waiting for contractors and inspectors.
2. Sellers who are inspected and staged are waiting a month for photographer appointments.
3. Sellers who are concerned about preparing and showing their homes while they are living in the home, will delay going on the market until they feel safe.
I believe our near future after the SIP is over, will involve new homes coming on the market with no public Open Homes and no Brokers Tours. We will have “appointment only” viewings and we will need to take appropriate precautions, armed with Purcell, one time use booties, and gloves in order to keep everyone safe. 3-D virtual tours will become more common. Our new environment might encourage sellers to move out before they sell, so the viewing process can be conducted more safely for all parties.
I am working remotely in my home office and keeping track of the market, existing properties, the local agent “buzz”, off market opportunities and coming soon properties. I will identify opportunities for you should they come up (off-market, price changes, back-on-markets etc.). That said, I have very recently seen some agents offering homes for sale “off market” in some circumstances. These homes are coming to me by email from the agents in my office, other local agents, and Top Agent Network sites (sent to agents only). I will forward you these homes as I receive them.
Should you see something that interests you, please call me and we can discuss. Text, email or call me if you have any questions about a potential home or the current market we find ourselves in.
No crystal ball here, but I don’t see the actual demand for a nice home in Lamorinda changing or stopping any time soon.
My best wishes for your good health and safety during these challenging times.
