housing prices, and future prospects Realtors told to stop home showing and

REALTORS TOLD TO STOP HOME SHOWING AND OPEN HOUSES AMID CORONA VIRUS SCARE REALTORS TOLD TO STOP HOME SHOWING AND OPEN HOUSES AMID CORONA VIRUS SCARE

LEWIS SANDERS

This spring will be an unusual spring for the realtors, buyers and sellers all over the country. Buyers and sellers are changing their plans as the traditional home-buying season gets underway. The California Association of Realtors has come out to warn its members to stop all the face-to-face activities including showings, listing appointments, open-houses and property inspections amid the coronavirus fears.

Last month, the governor issued a “stay at home” order, and it did not exempt home selling. The ordinance aims to keep more people away from each other-social distancing- and also help limit the spread of the coronavirus. Right now, only the essential industries can continue their operations, and according to CAR, that includes the home construction. In recent weeks, the industry had been trying to sell existing homes taking necessary measures like selling with a lot of hand sanitizers and encouraging social distancing, before the restrictions from the governor.

“This supersedes all existing local city and county orders that are less restrictive,” the association states in its advisory. “Clients and other consumers are also subject to these orders and should not be visiting properties or conducting other business in person.”

According to a flash survey from the National Association of Realtors, almost 1 in 6 real estate agents nationwide said that their buyer interest had declined because of the fears brought about by the corona scare. 1 in 10 said that the numbers of the sellers putting their homes on the market decreased significantly.

NAR estimates that the decline in real estate activity all over the country will cut home sales by 10%. Specifying the details to Yahoo Money, reductions will come in March and April when the housing activity heats typically up.

“Given that a home transaction is a major commitment, the uncertainties on how the economy will play out and the spread of the virus itself are barriers to home-buying and selling,” Yun said in a statement. “The stock market crash is no doubt raising economic anxieties, while the coronavirus brings fear of contact with strangers.”

Nonetheless, the sales reduction won’t be enough to counterbalance the price hikes as there was already an inventory shortage.

Localized Corona Effect

According to the most recent data from Redfin, the ripple effect from the coronavirus is affecting more markets than others. For

instance, in Seattle, where the first case of death was reported, open houses dipped at the end of February. The survey from NAR showed that 1 in 5 agents that buyer interest waned in Washington, more than the national figures, also, 1 in 7 agents said that the numbers of homes on the market declined.

“It’s definitely been an interesting quick change up here. It was the busiest in January and February that we’ve seen in a long time,” Shoshana Godwin, a Redfin agent in Seattle, said. “But we have seen some hesitation from buyers in the past week. And that can come from the virus itself or what it’s doing to the stock market.”

A spike in Virtual Homes

Technology is the only solution in this trying time. Enterprising agents and real estate companies are already publishing online, virtual home tour videos. This comes in a bid to persuade some “wanna-be” buyers to pull the buying trigger even if they do not physically enter the home they want to purchase. The county officials are still recording some real estate transactions. Title companies, mortgage brokers and lending institutions can still be able to work online and remotely process sales. The governor and the county officials seem to be quite okay with home repairs.

In this time, realtors mustn’t get desperate. You should try to keep in touch with your clients. The CAR advisory added that “property management and repair work, which generally involves maintaining sanitary and safety conditions is permissible. Additionally, many other aspects of the real estate industry can continue to occur without in-person contact, including documentation and signing, and in many circumstances, closings. Other activities may also be managed remotely, though there may be some difficulties.”

Are you looking to purchase your home during this time? I know, you had made plans, but with the coronavirus, in a way, you have been restricted, no worries. I am a licensed expert real estate agent for many years. I service the Bay Area to the Central Valley.

In this business, I have learned my clients are number one in priority, and I love everything about this business. I specialize in selling homes for top value. I am your number one negotiator and your first-time homebuyers’ specialist.

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Sources & Works Cited https://www.eastbaytimes.com/2020/03/21/coronaviruscutback-california-realtors-told-to-stop-home-showingsopen-houses/ https://finance.yahoo.com/news/housing-expertcoronavirus-will-hurt-home-sales-150158643.html

UPSCALE N.J. TOWN OKS PLAN TO BUILD AFFORDABLE HOUSING UPSCALE N.J. TOWN OKS PLAN TO BUILD AFFORDABLE HOUSING

JEREL WASHINGTON

Indeed, New Jersey is one of the hottest markets in the country. That is about to change, to achieve an all-inclusive state, after Princeton- one of the nation’s hottest real estate market approved an affordable housing plan with the option for low-income renters. The decision was upheld unanimously at a special meeting in December last year. The town council agreed to the program that will pave the way for hundreds of new affordable housing units and the end of a yearslong battle in court over the housing obligations.

“It was a long process to reach a settlement, in large part because the governing body was determined to develop a plan that not only met our affordable housing obligation number but did it in a way that strengthened our overall community by contributing to other important goals,” Mayor Liz Lempert said.

The plan voted into action calls for the redevelopment of the Princeton Shopping Center, and it will allocate at least 44 affordable family rental units to be developed on the site. The town council is also looking at a potential collaboration with the local non-profit Princeton community Housing to redevelop Franklin Avenue and the Maple Terrace with a new 100% affordable development made up of about 80 rental units, including 11 homes set aside for the very low-income residents.

The plan is also looking to develop 24 new affordable units at the nonprofit’s existing Princeton Community Village development located off the Bunn Drive.

For the Princeton Township, this is such a huge move with an upscale town of about 30,000 that has a median home value of about $804,000 and where the families take in an average of $125,000 annually.

This will effectively put an end to a real long court battle between the town and the fair housing advocates over the Princeton housing advocates over the measures Princeton is taking to meet its affordable

housing obligations under the state’s Mount Laurel Doctrine. The agreement also included credits to the town’s overall affordable housing obligation.

“We are pleased that Princeton has come to the table and reached an agreement with housing and civil rights advocates that will provide new opportunities for working families and people with disabilities in Central Jersey to live close to good schools and jobs,” said Kevin Walsh, executive director of Fair Share Housing Center. This advocacy group announced the deal Thursday.

“This agreement represents an important step forward in tackling racial segregation, which divides our communities and locks families of color out of safe neighborhoods, good schools, and job opportunities.”

For the final approval, the agreement will go to judge Mary Jacobson.

Ready to get the best deals out of Princeton, well, I am here to help you do exactly that. I am the founder of The Fine Homes & Estate Team, The Washington Group, and The Good Life Team-New Jersey, which are full-service real estate sales teams in association with Prudential New Jersey Properties-Princeton NJ, Keller Williams Realty-Princeton NJ, and currently Keller Williams Realty-West Monmouth NJ. I will help you get the best homes in Princeton and New Jersey. Get in touch with me today at; Jerel@kw.com. For more information, go to https://thepowerisnow.com/vipagentsservices/.

Sources & Works Cited https://www.msn.com/en-us/money/realestate/upscale-njtown-oks-plan-to-build-affordable-housing/ar-BBYcrgE

Home Ownership

By Eric Lawrence Frazier MBA

Home ownership brings stability to individuals and families who have never had a dwelling place that they could call their own. There is something special about owning real estate that is unlike anything else on earth you can own.

Real Estate you own is not like cars that decay over time and you have to replace them. Real Estate you own is not like clothes that go out of style and you have to buy new ones. Real Estate you own is not like expensive vacations or experiences that only last a moment in time. Real Estate you own is not like an apartment where the landlord may increase the rent until it’s no longer affordable. Real Estate you own is not like staying at your parents house where you know can’t stay forever.

Home ownership is the beginning of wealth that increases over time and becomes your estate & legacy Home ownership is the pride of a mother nurturer and the kitchen her domain Home ownership is the pride of a father provider and protector of his territory and family. Home ownership is the foundation of permanence and the place where life happens, birthdays celebrated, deaths mourned.

Home ownership is the place you build memories that can never be taken from you. Memories etched in walls and concrete, experienced in rooms and floors, Memories living in trees and shrubs planted by your hand. Howe ownership is the manifestation of you - your style, your colors, your smell, your stuff, your junk, your memories, your yard and your spaces, your life.

It’s the height markers on your first child’s bedroom wall. It’s the hearts drawn in the concrete slabs when you pour your patio floor It’s the birthday parties, and anniversaries in the living room and kitchen. It’s the back yard barbecue with friends, neighbors and family contentions it’s the high school and college graduation, and wedding receptions Its’ the family nights and block parties and the fellowship of family connections

Home ownership

It’s more than real estate. Land, brick and mortar, wood frame construction and chicken wire. It’s more than money saved, gifts recieved and grants obtained It’s more than the debt you incur to buy it. It’s more than the payments you make to own it. It’s more than the appreciation that comes with keeping it over time. It’s memories, it’s family, and it’s life that can happen in one place