A Letter to the Real Estate Community
One constant remains: people will always need a place to call home.
The world as we know it has changed. Our daily lives have literally been put on pause. Not much is known for sure except that we must wash our hands, social distance, keep our families and ourselves safe and healthy to the best of our abilities and maintain a positive outlook. Together, we will get through this.
Real estate has had its ups and downs, and trust us, we’ve experienced many of them, but one constant remains: people will always need a place to call home. Buying real estate remains one of the most stable investments one can make. This gives us hope. We know that people are in need of our support and guidance, especially during times of uncertainty. With decades of experience, we are uniquely qualified to provide perspective and recommendations, always with compassion and great care.
Many people are making comparisons between the financial collapse of 2008 and this pandemic and yet, there are significant differences. As we know, this is an unprecedented event in which a global health crisis has ignited a financial crisis. The market will not take years to recover, but instead, it should rebound quickly once we reach a certain level of containment. Think of it not as a bubble of excess like in 2008, but as the plumbing being temporarily out of order. It will be repaired, so don’t lose hope!
Buyers in good standing should be particularly interested in the market right now and it is important to connect with them. There will be opportunities to purchase generational assets at a lower cost and begin to build wealth into the future, further proving our point that there will always be people who want to transact, and those who need to transact. We are advising calm, smart, informed thinking and staying the course.
Now is an ideal time to reach out to your community, your relatives both near and far, clients and friends--simple, honest and thoughtful messages are appreciated and a meaningful lift to our spirits. Human beings imprint times of hardship within their memories and they will not forget who reached out to encourage them during this time.
Smith and Berg Partners has been in constant communication with our sellers and buyers throughout this difficult time. We are present, engaged and here to support and advise them. Our team has been staying up to date on the news, as it changes seemingly minute-by-minute, representing a steady voice of calm during the chaos. This practice positions our team members as trusted sources at a time when it is difficult to know where to turn for reliable information.
As always, we are staying connected to our terrific team of real estate pros. We have implemented regular Zoom video conferences and are sharing our findings and interactions. This allows us to stay on top of our current business and provide further strength and support to each other and our community.
We are all going through this time of uncertainty, but one thing is certain - humans are resilient. We will make it through. One day, in the hopefully not-so-distant future, you might even find yourself missing working in your sweatpants with that ‘always-open’ sign on your pantry door.
Images courtesy of Noel Kleinman.