COVID-19 & The Real Estate Market

    Dear Nashville Community,

    Our hearts are breaking for everyone who’s been affected by Coronavirus (COVID-19) and the recent Middle Tennessee Tornadoes.  We are all hoping you guys are staying safe and healthy during this unprecedented time in Nashville and our world.  We are also here if you need us – so please don’t hesitate to reach out if you need anything at all.

    Everyone keeps asking me: “What’s happening with the Real Estate Market right now?”  I’ve heard numerous predictions on what will happen with the Market, but they are all speculation at this point.  It may be years before we see the full impact of this situation.  

    The reality is that we are still experiencing a healthy Real Estate Market in Nashville and are hearing the same thing nationally.  What does that mean? For example, we have polled a group of 30 Agents in our community of REALTORS®, and have learned that in over 60 transactions set to close within the next 60 days, we have only 2 transactions where the buyers are backing out – one due to the loss of a job, and the other due to loss of down payment money because of the current shift in the Stock Market we are seeing. 

    We also have heard story after story with over 12 Listings that have all gone on the Market this last week, which are currently either Under Contract or are still having a strong amount of showings and interest.

    Of course, this could all change as things progress, but we are dedicated to maintaining a safe response to this situation.  Our Team is still working and practicing safe social distancing, and will continue this for the foreseeable future.

    The reality is that people still need a place to live, and buying remains a better option than renting – especially with interest rates as low as they currently are.  This, coupled with the demand for good housing in Nashville, has proved to maintain a good Market locally.

    What should you do if you need to sell or buy Real Estate during this time?

    • If you need to sell your house, it’s actually still a Seller’s Market, and I encourage you to move forward with doing a virtual meeting with an Agent to discuss your house’s value.  We can tour the home separately from you (or digitally), set up showings while you aren’t home, and do all paperwork/marketing remotely and digitally.
    • If you need to buy, we can help you by doing a virtual consultation as we discover your needs, email you property Listings, and open doors to homes for you while maintaining a safe distance from you and others.

    We will continue to update you guys as the Market is affected by the changes we are experiencing due to this global crisis. Our Team is thinking of and praying for each of you, and our world, during this time.

    Sincerely,

    Allen Perry and the Nashville on the Move Team


     

    Resources about COVID-19 Locally and Globally:

     

    Resources about COVID-19 & The Real Estate Market from Our Blog:

     

    Resources about COVID-19 in Nashville & How to Support Local Businesses:

     

    Trackback from your site.

    Allen Perry

    We can’t count the number of times a day that AP asks one of us, “Anything else?” We certainly can’t accuse him of not being thorough! He is passionate about perfecting our website, staying on top of social media trends, and most importantly about his clients. Allen got into real estate initially as an investor. Eventually, he started helping his friends buy and sell real estate and worked to get his license. Since then, he has won too many awards to list (but if you’re curious, check out our Media section) for being a top agent, closing record numbers of transactions, and having a top real estate team: Nashville on the Move. You can see exactly how he works with clients in clips from his appearances on HGTV shows in our Media section! On sunny weekends, Allen likes to get out on the lake. He’s involved with many community service projects as well, including Habitat for Humanity, Ellie’s Run for Africa, Young Life and more. “Anything else?”

    Leave a Reply

    About our blog

    Our agents write often to give you the latest insights on owning a home or property in the local area.