Massachusetts Real Estate Podcast with Paul Brouillette

What’s happening in the real estate market right now? Here are the five main points to know:

1. Real estate sales are strong and steady. I’m not just talking about Massachusetts, either—I also mean nationwide.

2. There’s a lack of inventory (especially in Merrimack Valley). If you or someone you know is looking to sell, now’s the time to do it. We recently listed two properties in Chelmsford that fielded six and nine offers in a single weekend. One of those properties sold for $43,000 above asking price. It’s a seller’s market.

3. Interest rates are still very low. The Federal Reserve set the bank rate at zero, and some buyers are getting 30-year fixed rates as low as 2.5% to 3.5%. There are also plenty of amazing programs for anyone looking to leave renting behind and make the leap to homeownership, so now’s a great time to be a buyer as well.

4. We’re still practicing COVID-19 safety protocols. This means wearing gloves and masks, maintaining a six-foot distance with clients, and only allowing one party in at a time during open houses (a maximum of three people). We also recommend that children not attend open houses, and we ask all potential buyers and their agents to wear masks and gloves. In some cases, people are requesting that in-home visitors wear booties on their feet.

5. It’s a great time to sell. I mentioned this point above, but it’s worth mentioning again. With the unemployment rate still high and all of the other challenges the economy is facing, there’s a chance that home values will decline near the end of 2020. If you’re a seller, you’re better off selling now while home values are peaking.

As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home soon, don’t hesitate to reach out to me. I’m happy to help.

Here are a few of the key ways that the real estate industry has changed due to the COVID-19 pandemic:

1. Virtual options. Many listings are being presented via virtual tours, Matterport 3D tours, and social media platforms. Virtual offers are being accepted, too.

2. In-person options. For the sellers holding in-person showings, they are having separate showing times and requesting that masks and gloves be worn by buyers and their agents. They’re also asking people not to touch doors or light switches. We’re also taking great care to make sure we don’t infect a seller’s home.

3. Open houses with social distancing. We’re having one family at a time enter the premises while the others wait outside.

4. Appraisals. Some are being done as desk reviews instead of physically going out to the property. It all depends on the lender with which you're working.

5. Closing in two to three phases. There’s a buyer phase with the buyer’s attorney and the buyers, and a seller’s phase with the seller’s attorney and the sellers.

If you have any questions for me, don’t hesitate to reach out via phone or email today. I look forward to hearing from you.

One of the main concerns for home sellers right now is our ability as real estate professionals to show and sell their homes as safely as possible during this pandemic. We achieve safety by:

1. Forgoing group open houses.
2. Verifying buyers have not been exposed to COVID-19, nor currently feel sick in any way. No one can enter your home unless they’ve been vetted. 
3. Conducting virtual meetings at a massive level. 
4. Teaching clients new ways to operate their business. The implementation of virtual signatures, contracts, and meetings have truly revolutionized many industries, including our own.

While it’s easy to focus on the obvious hurdles of buying and selling real estate during a health crisis, there are some real benefits for those interested in making a move in the market at this time:

1. Only serious clients are looking for homes. There’s no wasted time with looky-loos.
2. Rates are still at historic lows. Though there’s no telling how long that will last, many speculate it will remain through the end of the year. 
3. Sales are very competitive. There are plenty of active buyers out there hungry for a properly priced home in good condition. We’re still expecting somewhere between 4 million and 4.5 million sales to occur nationwide in 2020. 
4. Sellers will likely net more money in June and July 2020 than in any other period for the next 12 to 24 months. This is largely because, in light of so many people being out of work, we are potentially rolling into what will be a long recession.

Remember: Your safety is our No. 1 priority. We’re using plenty of sanitizer and disinfectants, practicing social distancing, and wearing gloves, masks, and shoe guards. If you have any questions about real estate during these uncertain times, please reach out by phone or email. We’d love to help you in any way we can.

I’m helping people make moves locally, regionally, nationally, and internationally, and everyone’s been asking how the real estate market is doing. The market is moving and very busy. Many buyers are waiting for homes to come onto the market; inventory is very low. So we’re wondering: Who do you know who may want to sell their house? If you know someone who needs help selling or wants a free consultation, please reach out to us via phone or email. To learn more about our current market, watch the short video above.

We’re all facing an international crisis with the coronavirus, but we’re still operating our business as real estate professionals. We’re concerned with your health and well-being, and the safety of our clients and employees. Half of our team is currently working from home. We’re taking special measures with social distancing, being careful about showing homes, how many people we allow into those homes, minimizing in-person contact with others, and so on. With all these precautions in place, we’re still here to help you with real estate.