April Housing Update
Real Estate Market Remains in Motion
J. Lennox Scott
Chairman and CEO John L. Scott
The Southeast King County real estate market experienced a bit of turbulence in late March as the coronavirus crisis evolved. Following state-wide orders, the market virtually paused for a few days, but began picking up after real estate guidelines were adjusted to suppose social distancing. Now, with these guidelines in place, buyers and sellers can take advantage of historically low interest rated in the mid-threes. With inventory shortages in many price ranges, the focus remains on each new listing.
It’s important for buyers to be Buyer Ready, Day One to boost your chances of success. Additionally, we’ve enhanced our strategies for sellers during this time to attach serious buyer and get your home sold. Through our business practices have adjusted, we’re seeing sale activity starting to pick back up.
Our Technology Supports Social Distancing
From text notification of new listings, to home searches conducted on a desktop or through the John L. Scott mobile app, our technology provides key advantages for buyers and sellers, especially in times of social distancing. Many buyers have a specific area and criteria in mind for a home and conduct their initial home search online – viewing photos and sometimes listing videos, all to get a feel for the home before setting foot on the property. Sellers can share a wealth of information online about their home, and serous buyers can set up a private showing to view in person.
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