I would like to make a quick message about my thoughts on this current health pandemic and how it is effecting the real estate market. I can only briefly speculate on how the future will look this year, but given what I can see and what I have heard I am not as optimistic as I would like.
Currently, showing houses is difficult. I have many sellers who do not want people in their homes. These are sellers that really need to sell and are very motivated, but the current message is “Let’s wait and see, or wait till this blows over a bit more.” At this point we are offering video showings and virtual help to assist in the sale of these properties. However, that is not easy. If you check out my listing videos page, this will give you an idea of what I can do to help sell properties virtually.
I have 2 very clear categories of buyers right now. The first being those who are able to wait and see what happens. These are folks that range from pre approved to cash buyers wanting to make a rental investment, buy their first home, or just make a change. They are very cautious right now and my recommendation to them is to WAIT as long as possible. We need to know how things will look before making such a big decision. My over all gut feeling is not that homes will drop drastic drastic amounts of money $50,000+. But as I said earlier, there is a level of uncertainty that we just can not know what things will look like. Long term forecast I am optimistic but we still want to ensure we are making best decision possible.
Second category of buyer is the WE NEED TO BUY A HOUSE BUYER. These folks have either been relocated for work or other reasons or just sold their previous home and have a mortgage to port or other motivation to buy. These folks need to understand their rental options in the short term and if that is an option to strongly consider it. Long story short is these buyers are getting A LOT of my attention right now. Countless showings, lots of aggressive offers, and plenty of miles on my little car. It is important to get this sort of attention when market conditions are so crazy. Check out my dream home finder but better yet call me! 780-777-9703
Landlords and Tenants – Dealing with COVID 19
Are you a Landlord or Tenant? Listen up. This is the most delicate situation I am dealing with. In my letter to tenants and landlords I made it very clear that each situation I manage (200+ Rental Properties) is different. We are EXTREMELY compassionate property managers. That being said I have tons of families and individuals to manage. There are losses from landlords and tenants. We are dealing with each tenancy and lease agreement payment on a case by case measure. With a blanket 10 days of grace without penalty on every property and split rental payments when requested. However, we also have tenants who can not pay at all and landlords who can not afford to miss one payment. I am in constant contact with each tenant and landlord and working on these matters. We urge everyone to reach out for government support and help from family and friends to ensure not only you are healthy, safe, and happy but you can afford your cost of living: food, shelter, supplies. Anyone can call me direct to discuss these personally!
Government Support Website. Check it out!
COVID – 19 Response From Realty Executives Focus
To: Our Clients, Tenants, Landlords, and Friends
As we monitor the COVID-19 situation, our top priority is the health and safety of you and our agents.
The COVID-19 page on the Government of Alberta website is updated twice daily and will have the most current information applicable to Albertans. Please take the time to learn about how you can help stop the spread of all viruses, including the novel coronavirus (COVID-19).
Buyers and Sellers
Please discuss your concerns about the potential risks with your Agent. Our Agent will go over with you recommendations that would minimize or eliminate risks regarding the purchase or sale of your property. We encourage you and your Agent to work cooperatively to find a solution that best fits everyone’s concerns.
Tenants and Landlords
Please be advised that we are aware of the hardships that some of our tenants and landlords are facing at this time. If you are having issues maintaining rental payments, mortgages, cash flow, please discuss with your Property Manager to come up with the most mutually beneficial solution possible.
As such, there are no penalties for being late on upcoming rents with a 10-day grace period on all rental payments. If you are experiencing further difficulty please let us know so we can come up with a plan to ensure that we are doing whatever we can to further help you.
We all must work together so that both landlords and tenants are supported.
TENANTS: FOR ALL COVID-19 RELATED HARDSHIPS PLEASE EMAIL
Please use this email for rent issues, payment schedules, and other matters regarding how we can keep track of who we need to work with us, owners, and families during this current health pandemic.
Our industry has a very strong virtual presence and will remain operating to ensure our clients are effectively buying, selling, renting, building, and investing in real estate.
Thank you for your continued trust and support of Realty Executives Focus.