Weekly Real Estate Recap 4.5.2020

As we enter into week 4 of quarantine, real estate is still considered an essential service in Louisiana. There are several states that have deemed real estate a non-essential business and buyers and sellers will not be able to move for another 30-90 days minimum. In New Orleans, the 10 layers of real estate are operating under the CDC guidelines. Homes that are vacant are easier to show, inspect, and eventually sell. Homes that are occupied are being shown on a case-by-case basis. Some buyers have taken a pause while other buyers see an opportunity as we shift to a buyer’s market. Some sellers have decided to extend their listing dates until May or June while other sellers are continuing with their plans to sell. We will experience a delayed Spring market, but our local market is still operating. Offers are being written, homes are being inspected, and sales are being transferred. All parties involved are being cautious, practicing social distancing, and wearing protective gear.

This week, the Preservation Resource Center hosted their first online webinar. Joe Uzee, VP of Gulf Coast Bank & Trust, and I were co-hosts. Please listen when you have some time for more details on this week’s recap. Click Here to Listen

https://prcno.org/event/webinar-state-new-orleans-housing-market/

 

Witry Collective will host another Zoom call this Wednesday, April 8th, at 4 pm CST for our clients. We will do a round table with our team to share what we are seeing in our local housing market. Every household will be impacted by this quarantine; the impact will be different depending on one’s health, employment status, and resources. Take care of yourself, your family, your neighbors, and your co-workers. Keep checking in with people to ensure they have what they need as we shelter in place.