COVID-19 UPDATE FOR COACHELLA VALLEY REAL ESTATE APRIL 7 2020
In these uncertain times as we battle this virus, I’d like to update you on the status of Real Estate happenings here in the Palm Springs area and how I can still work for you in selling or buying a home.
► Real Estate is designated as an essential business in the state of California by Governor Newsom.
► Escrow offices and Title offices are open and working to close all homes in contract.
► Inspectors and other contractors involved in the sale of a home are allowed in the home to work under strict sanitary guidelines outlined by the County of Riverside Health District.
► Showing homes to buyers is allowed, with strict sanitary guidelines and a Corona Virus legal form that buyers and sellers sign off on. Some cities have even stricter policies in force. Check with me for showing specifics.
So yes, the Real Estate business is still moving forward but at a slower pace until we get ahead of the Corona virus curve.
If you are in the market for a new home at this time as a buyer, the sellers and sellers agent will be vetting all buyers based on stringent new guidelines based on the CA Governors recommendations. These include:
► Pre-Qualified loan letter
► Proof of funds for all cash involved in purchase
► Signing off on Real Estate documents created in lieu of COVID-19
These need to be completed and presented to agents before even showing a property.
Even though interest rates are low there are issues involving the secondary loan market that could add more fees or expose you to a higher rate until those issues are resolved. Make sure you ask and check in with your lender closely to keep on top of your quoted lending rate.
The Palm Springs market was booming up to the point of the COVID-19 outbreak and the local Realtors believe that once we get past this outbreak business will recover quickly and we are prepared for a very busy summer. It’s too early to tell if prices will fluctuate on listings but I’ll be happy to talk to you about that and keep you informed on a personal basis.
Meanwhile it’s a great time to look on line and have me help with virtual tours and any information I can get to you in lieu of a showing.
Stay safe and healthy and I look forward to finding that special home for you here in The Coachella Valley!