FEATURE
SELLING FIX-AND-FLIPS IN THE CORONAVIRUS ERA By James Bowie, Alta Capital Group
D
ue to the constantly evolving
seller premiums, with parents of
started midway through March will
status
COVID-19
adolescents aiming to get settled into
subsequently lead to a corresponding
pandemic—including social
their new homes well in advance of
reduction in property sales. Recent
on
the beginning of the school year in
surveys
commercial activity—the real estate
August and September. This year,
Department of Commerce indicating
investment industry is contemplating
however, amidst the widespread
that
how to resolve potential issues
market instability and general sense
spike in February 2020, mortgage
involved
fix-and-
of uncertainty, this buyer behavior
applications on a national basis
flip projects in a market severely
data may not be as reliable for the
decreased by 29.4% in the week
impacted by the coronavirus.
majority of the real estate markets
ending March 20 foreshadows the
nationwide.
potentially devastating after-effects
distancing
and
with
of
the
restrictions
selling
The window of time between March
conducted
after
reaching
by an
the
U.S.
11-year
of COVID-19 on the housing sector.
and July is typically the ideal time
Collectively,
of year to sell a property. June
agreement that the sharp decline in
While a nationwide transactional
historically
economic production that initially
decline is anticipated in the real
26
yields
the
highest
economists
are
in
