Tuesday, April 7, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems Real Estate.
If you are in the process of trying to buy or sell a home, this is an unsettling time for every party involved. According to the New York State Association of Realtors, " the state's Essential Services Directive (ESD) guidance extremely limits what real estate functions are deemed essential for the purpose of (Realtor) licensee and public safety. We urge that you work from home to the greatest extent possible."
Lenders, title and escrow companies, attorneys inspectors, moving companies and anyone else who makes the transaction happen have been affected. Buyers and sellers should expect a new way of doing business, and not just for the short term. Here are six things buyers and sellers need to understand even when pandemic restriction are lifted.
1. We're not in Kansas anymore, Toto.
Across the country, the way homes are shown and sold will change significantly. Not every seller or occupant ...
Read More
hudson valley real estate, hudson valley property, hudson valley home, buying a home, hudson valley home owners, hudson valley home sellers, selling your home, pandemic
Monday, April 6, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
Ten million Americans lost their jobs over the last two weeks. The next announced unemployment rate on May 8th is expected to be in the double digits. Because the health crisis brought the economy to a screeching halt, many are feeling a personal financial crisis. James Bullard, President of the Federal Reserve Bank of St. Louis, explained that the government is trying to find ways to assist those who have lost their jobs and the companies which were forced to close (think: your neighborhood restaurant). In a recent interview he said:
“This is a planned, organized partial shutdown of the U.S. economy in the second quarter. The overall goal is to keep everyone, households and businesses, whole.”
That’s promising, but we’re still uncertain as to when the recently unemployed will be able to return to work.
Another concern: how badly will the U.S. economy be damaged if people can’t ...
Read More
hudson valley real estate, hudson valley property, buying a home, home investment, 'urb to 'burb, pandemic, unemployment
Friday, April 3, 2020 / by Vanessa Saunders
From Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
As our lives, our businesses, and the world we live in change day by day, we’re all left wondering how long this will last. How long will we feel the effects of the coronavirus? How deep will the impact go? The human toll may forever change families, but the economic impact will rebound with a cycle of downturn followed by economic expansion like we’ve seen play out in the U.S. economy many times over.
Here’s a look at what leading experts and current research indicate about the economic impact we’ll likely see as a result of the coronavirus. It starts with a forecast of U.S. Gross Domestic Product (GDP).
According to Investopedia:
“Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comp ...
Read More
hudson valley real estate, buying a home, home investment, hudson valley home owners, hudson valley home sellers, 'urb to 'burb, pandemic, the future of real estate
Thursday, April 2, 2020 / by Vanessa Saunders
By Vanessa Saunders, MBA, MIMC , Broker Owner, Global Property Systems
If you had two dollars and could double it as often as you wanted, how many times would you need to double your original "deuce" to reach a million?
Just nineteen times.
So how does that apply to social distancing? This is how. If someone is infected by the COVID-19 virus, they will be symptom free for several days, if not longer. If they interact with and infect just two people, and those two don't conduct social distancing (staying away from other people) and also interact with two people and so on and so on, over one million people will eventually come down with the disease in just 19 social interactions. Here's a chart from a UK website that tells it better than I ever could.
[caption id="attachment_27067" align="aligncenter" width="596"] Thanks to Matt Hancock, UK Health Minister for letting me steal this chart. It's that serious.[/caption]
Got it?
Stay home!
Read More
hudson valley real estate, 'urb to 'burb, orange county ny, westchester county, rockland county, ulster county, sullivan county, manhattan, dutchess, pandemic
Wednesday, April 1, 2020 / by Vanessa Saunders
The above video has nothing to do with this blog, but what the heck. We love seeing a rabbit playing with a Rotweiler.
After you watch, if you want to read this blog, it's about the economic slow-down and how home buyers should prepare for when the economy gets back to normal. Enjoy!
The rapid spread of the Corona virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.
One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:
“Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analys ...
Read More
hudson valley real estate, hudson valley home, 'urb to 'burb, westchester county, rockland county, ulster county, sullivan county, hudson valley house, manhattan, dutchess, first time home buyer, funny blog, the economy
