What Changes Can We All Expect From The Real Estate Industry Shortly?

Written by Posted On Sunday, 19 July 2020 02:07
What Changes Can We All Expect From The Real Estate Industry Shortly? Pixabay

How might this pandemic, influence the real estate market, in the period, following the reopening of our economy? Will sellers, require less, and adjust their expectations, in terms of price, etc? How many possible buyers, may no longer feel content, in terms of their comfort zone, initiating a major economic purchase, after this elongated period of consumer concerns, income disruptions, etc? Will potential, qualified, buyers, feel happy, going to Open Houses, in the near - term? What other strategies, and approaches, might be required? Will banks, lending institutions, and the Federal government, aggressively advocate, helping the real estate industries, etc? How will commercial properties, and their value, be impacted, etc? With that in mind, this article will try to, briefly, consider, examine, review, and discuss these factors, etc?

1. Sellers, and buyers, expectations, comfort zone, flexibility, etc: How many homeowners might decide to downsize, to have more immediate monies, available, for emergencies? Will their priorities, etc, change? Will buyers feel comfortable, making such large economic commitments, after the recent, prolonged period? How many homeowners, might feel, they need to sell, because of their changing financial circumstances? How will people's comfort zones, become essential factors? Will buyers, lower their standards, and/ or, expectations/ demands, and will they lower their purchase price range? How will supply, and demand, change things?

2. Marketing/ sales strategies: Will virtual showings, become the standard, at least, in the coming - term? Will real estate agents improve their marketing, and sales strategies, to address the new concerns? Will we observe fewer Open Houses, because of concerns, in terms of Social DIstancing, etc?

3. Mortgage rates: How might the government, Federal Reserve, etc, address these issues, and, will they, build circumstances, where mortgage rates, are, maintained, at an attractive, low rate, to shore - up the housing market, a significant component of the overall economy? Will they require lower down - payments, and, will that formulate, a potential, housing crisis, into the future?

4. Commercial real estate market: Will larger stores, become tomorrow's equivalent of real estate dinosaurs? Will malls, become far less popular? How many restaurants, and other real estate establishments, go out of business, because of the present economic stresses, etc? Will strip malls become more popular? How will doctors, dentists, hairstylists, retail stores, chiropractor, buffets, restaurants now operate their business? How many companies might realize, they can do more, remotely, and thus reduce their spaces? How many might not be able, to afford, the public health necessities, and guidelines, into the future? If restaurants are often challenged, in the past, how will they be able to afford, lower occupancy rates, etc? How will bars, etc, have to adapt, or perish?

5. How real estate business will be handled? How might the real estate business, of the future, appear, and be changed, from the pre-pandemic one?

How will real estate change in the future? Will you be one of the wise individuals, ready, willing, and able, to appropriately, respond, and proceed, into the future?

 

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