Welcome to what is the first pandemic for most of us! My parents predate polio so this pandemic is new even for them. You might be scared. You might be wondering if this is the new normal. The truth is—no one knows how long this pandemic will last. No one knows how long you will have to shelter in place. It’s a scary time for us all, worried about our health and the health of our vulnerable loved ones.
But, once this immediate health crisis passes (and it will—rest assured, life will return to normal)—what will happen to the economy? Many folks have been laid off, most temporarily, some permanently. Others have had their jobs phased out or changed. The stock market is as volatile as ever. Real Estate at this time may seem terribly uncertain, but, it’s a giant part of the economy—an estimated 22% of all jobs in the United States are real estate related. Rest assured, your local agent is as busy as ever, the housing market remains strong. Now is a great time to both buy and sell.
But, whether you’re presently looking to buy or sell your home or were just dabbling with the idea before Coronavirus hit, there’s a few things that you can do now to protect your physical and financial health.
Looking to sell? With many of us quarantined at home, now is the time to work on those DIY projects to get your house in tip top shape. Landscape the yard, fix that leaky pipe, get that roof in tip top shape. The devil is in the details when it comes to selling your homes and taking care of these small things can help your home stand out amongst the other homes, and could exponentially increase the value of your home.
Looking to buy? Use this time to really research neighborhoods and schools. Use this time to make sure your credit is in tip top shape. You don’t want any surprises when it comes to a last minute credit check. Make as much money as you can and set aside whatever you are able too. Banks love stability so the more stable that you can stay at this time the better. This website has many posts dedicated to specific neighborhoods and community highlights.
Lastly, don’t panic list your home. While many people could do this to great benefit of the buyers, hold steady and know that the economy will bounce back and will perhaps be stronger than ever. Stay strong, stay healthy and remember that before too long, you can get back to enjoying everything that Portland, Oregon has to offer. For now, stay home and stay connected to those that you love.