Ohio has confirmed nearly 6,900 cases and 268 deaths, according to the Department of Health. The pandemic has caused nearly 2,000 hospitalizations here, with about 600 people needing treatment in intensive care units as of April 14th.
And as the weather heats up, home sales typically follow suit. But recently enacted “stay-at-home” orders which is intended to contain the spread of covid could bring the local housing market to slow down.
Real estate has traditionally been a face-to-face type of business, but with this virus changing aspects of everyday life, local real estate agents are coping with covid-19 with more precautious strategy. It’s not just the buyers and agents taking precautions. Closing agents overseeing the escrow and closing of the house are taking extra steps to protect themselves, too.
Buyers and seller are being cautious about who they allow to move through their property to view it, and making it sure that health and safety protocols are strictly observed. Even those personalized, one-on-one showings are being held with extreme caution in the wake of the new coronavirus, which causes the deadly COVID-19 respiratory illness.
With today’s technology, the search for a new home begins online so continuing the process virtually is a natural progression. As agents are coping with covid-19, most buyers find their home online first and contact the searched realtor to schedule showings. Buyers realize they can’t physically see it but they can surely do a virtual tour.
The 3D tours also allow you to focus in on certain areas in a house and give you more of a feel for the house than you can get from just the listing photos. Now, most buyers use the virtual tours just to narrow their searches to the homes.
Here in Ohio, notaries are doing their best to keep their distance but are still out there helping buyers and sellers through the closing process.
Some title companies are requesting that closings take place at their offices under sanitized and controlled conditions. While everyone on this industry are unsure when things will return to normal, they can guarantee many of the practices being used during this outbreak will continue when it ends.
The longer-term societal and real estate implications could continue to be felt over the years to come. Mitigation activities will last for several months and it will take some time to reach a full recovery. The impact and aftermath of COVID-19 will change our way of living and working, potentially leading to new operational models: However, no epidemic or pandemic lasts forever, and everyone will still need a place to live when this one passes. Need more information? Feel free to contact us at 216-619-4387.