The real impact of Coronavirus on the

THE REAL IMPACT OF CORONAVIRUS ON THE HOUSING MARKET IN NEW JERSEY

Jerel Washington

ATTOM Data Solutions released its report, which shows that the housing markets in the Northeast and Florida are much more vulnerable to the economic impact brought about by the Coronavirus epidemic. The markets in the West and the Midwest are less affected by the pandemic.

As of writing this article, there were 1.96M confirmed cases in the United States with 458K recoveries. Unfortunately, the country had lost 111K people to the virus. As the number of COVID-19 cases continues to skyrocket globally, markets and industries are feeling the weight of the burden caused by the virus.

Real estate is no exception. Many housing markets are reporting declined sales activities, with more looking to get a wave of foreclosures soon. Statistics show that the hardest-hit states in the country include; California, New York, Washington State, and New Jersey. But how bad is it, especially for New Jersey?

HOME SALES

Home sales are usually heightened during the spring season. The spring months are critical for the housing market; this is a prime time for the sellers to list their homes for sale and the buyer and real estate investors to hit the market and buy their properties. According to NAR, 40% of the annual home sales happen in March through June. This year, however, has been different. Living with the pandemic has proved challenging.

Seeing that many people have already lost their jobs, that combined with the fact that most people are in quarantine, homes sales have been dwindling. Though there some markets where sales have been unaffected, the same cannot be said for some states like New Jersey. The New Jersey housing market started to experience the impact of the COVID-19 signaled by a drop in the real estate activities among the sellers and buyers as both have been feeling quite an unease.

The homebuyers are fearful of buying in an uncertain economic climate, and it is typical of them to suspend all their property searches until this crisis is fully over. Moreover, with the shelter-in-place orders and social distancing has brought worries to the sellers who are unsure about welcoming outsiders into their homes. What we are experiencing now is

the sudden shift in the New Jersey real estate market on the seller’s side, and most do not want buyers in their homes.

Even though the Department of Homeland Security Cybersecurity and Infrastructure Security Agency added real estate in the list of essential businesses, which means that real estate activities can continue with their normal operations during the pandemic, few markets are yet to normalize. The governor of New Jersey quickly permitted home buying and selling during the pandemic, but does that guarantee that home sales will be on the rise? Time will tell. While the real estate professionals are urging the sellers not to worry, buyers, on the other hand, can expect a low bidding war.

Open Houses Prohibited and Agents Are Coping Governor Phil Murphy permitted real estate business to continue normally; however, there have been stern restrictions to open house. Real estate agents can conduct home showing on a one-on-one basis. While many buyers are off their buying plans, real estate agents in the states are continuing their work, keeping in mind to take every precaution on the home, showing requests while strictly following the outlined guidelines from NAR. The reality is, with the stay-at-home orders, there has not been any significant showing.

Additionally, home closings have also been impacted, seeing that some of the municipalities are closed to the general public. Also, home inspections have been affected too. Overall, the New Jersey agents all agree that it has become impossible to predict what might happen over the next few months. Optimistically, they predict a rise in the number of home sales when the pandemic is over.

To learn more about the New Jersey housing market, reach out to Jerel Washington. He is a full-time Realtor & Real Estate Investor who focuses on the needs of his clients & partners from Central New Jersey to the Jersey Shore, spanning Five (5) counties. Since starting his career in real estate in 2004, Mr. Washington has sold approximately $231 Million in Real Estate Sales Volume. With over 21 years of professional corporate experience in the Technology Sector, specifically, IT, Tech Services & Internet Sales, Product Development & Marketing, Public Speaking and as a Sales Trainer in Silicon Valley, Mr. Washington’s base of knowledge and experience to create a winning formula for buyers and sellers is proven and unmatched. To learn more about Jerel, follow this link https:// thepowerisnow.com/jerel-washington/.

Sources;

https://www.forbes.com/sites/ lisachamoff/2020/04/07/new-jersey-floridahousing-markets-are-most-at-risk-fromcoronavirus/#1a832c44ce20 https://www.mashvisor.com/blog/housingmarket-predictions-2020-spring/ https://patch.com/new-jersey/belleville/impactcoronavirus-u-s-housing-market https://www.mashvisor.com/blog/corovavirusnew-jersey-real-estate/

HELPING YOU MASTER YOUR SPECIAL

Johnnie Morine

Johnnie Morine, Dallas real estate mogul, has announced the release of his new book titled MASTERING YOUR SPECIAL. The book highlights the S.P.E.C.I.A.L. that he discovered to help achieve financial and personal success while explaining how overcoming struggles can create indomitable personality traits that can lead to a fulfilling and gratifying life.

Brief Synopsis of Masterminds

Author and coach, Johnnie Morine, wants to help you claim your inner you. In a dream, Johnnie Morine asked himself, why does selling homes come so easy for him. “Why am I special?” He also asked himself, how can he help other agents be more successful? The acronym SPECIAL was crafted within the dream that Johnnie calls “a set of genuine disciplines.” The sales approach was well-defined from Swag/Self-image, Persona, Excellence, Common Goals, Integrity, Attitude, Alliances, Audacity, and Latitude. MASTERING YOUR SPECIAL is a clear anecdote to build self-awareness and stimulate the selling of yourself. That is where all relationships start. The content within the book will provide detailed descriptions to help you shape your destiny. In this book, you will find what makes you tick and what makes you SPECIAL. The goal is to master what makes you special and how to make other people interested in what you are selling. Whether you are starting a personal or business relationship, you will understand how to sell yourself better.

“If this book can empower just O.N.E. individuals, then I feel that it has served its purpose. Sharing knowledge can inspire change. Things are never as bad as they may seem – we just have to keep pushing forward.” Said Morine. Currently, MASTERING YOUR SPECIAL is available on Amazon.

ABOUT JOHNNIE

Over the course of almost 30 years of running successful business and strategic partnerships, Johnnie’s simple philosophy and approach to life have taught him the value of commitment, motivation, collaboration, and an entrepreneurial spirit. Starting small as a sales agent, and an entrepreneur back in 1984, the idea to venture in the real estate industry had always been with him, but had not yet materialized. Today, Johnnie runs a prolific real brokerage firm where Seasoned REALTORS realize the bottom-line and how it affects their lives. To learn more about Johnnie, follow this link https://thepowerisnow.com/johnnie-morine/.

Sources:

https://www.greaterdfwhouses.com/blog/article/masteringyour-special-by-johnnie-morine/bl93758e939b7b4c https://thepowerisnow.com/johnnie-morine/