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The State of Real Estate – Spring 2020

Two potatoes on a couch

We are living in uncertain times.

In Illinois, we have been under a “Stay at Home” order since March 20th making some of us couch potatoes. All schools have been closed and only “essential workers” are exempt from the order to stay home.

Real Estate is an “Essential Business”

At first thought, it might not seem like buying or selling a house is necessary at times like this. For many people, it isn’t. For those with houses on the market, they can choose to put their listings on hold and not accrue market time.

However, for some people, buying or selling a home must be down now. For example,

  • Their home sold before the pandemic and they still need to move
  • Immediate relocating for work is required
  • A home is damaged making it uninhabitable and a new home is urgently needed
  • A Domestic violence situation requires a change of residence quickly

What Realtors Can and Cannot Do

Some rules vary by company, but at BHHS Chicago our offices are closed and we cannot enter for any reason.

  • All in person Open Houses are cancelled.
  • In person showings are allowed under certain agreed to circumstances (a waiver may be necessary)
  • Recorded or live virtual tours are available
  • Mortgages and Refinances are still being processed by lenders
  • Closings are still allowed, but in general agents cannot attend and buyers & sellers are in separate rooms or stay in their cars

You can find more information here.

Real Estate Technology

person using tablet

We are fortunate to live in a time where technology has brought our business forward in amazing ways.

  • Listings are online and can be viewed 24/7
  • Documents can be sent via email and e-signed
  • Mortgage applications can be made online
  • Zoom meetings/FaceTime allows for visual meetings while staying at home

Can I still list my home for sale?

Yes! Plenty of people are sitting home with extra time on their hands and surfing the internet for homes. The house will need to be prepared (remember “The 3D’s”) and a photographer will still safely come in to take pictures.

In additional to traditional photography, another new technology is available. Matterport, a 3D camera technology, photographs your home and then builds a virtual model. It allows you to look at a home like a dollhouse without a roof. You can move room to room just like walking through the actual home.

Have a large yard or acreage? We can also use a drone photography for aerial shots.

What if I have more questions?

As I said, we are open for business! Post your questions about buying or selling a home in the comments. We can discuss ways to get your home ready (even if you want to wait to list until later in the year).

Need to buy a home? I can share a great app (more reliable than Zillow) to assist in your search and I can also set up automatic searches that can be emailed to you in real time or as often as you wish.

Call or Email me today.

Stay Safe, Stay Strong!

Updates

Beginning May 1: Face coverings required throughout the State when safe social distancing is not an option. See more here

April 18: According to WTTW:

Municipalities including CiceroGlenviewHighland ParkMorton GroveNilesSkokie and Wilmette require anyone to wear a mask while in public.

news.wttw.com

April 20, Northbrook will also require masks.

April 21: Deerfield, Evanston, Oak Lawn require masks.

April 23: Adding Mundelein & Waukegan

The list goes on….Des Plaines, La Grange Park, N. Riverside, Oak Brook, Oak Lawn, Park Ridge, Tinley Park.


April 10: Fort Dearborn now offers Zero Touch Closings. Click image for more details!

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