Impact of Coronavirus on housing market?

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Soylent Green Is People said:
Serious question - Any with masks? I'm seeing them all over the place from stores to joggers and dog walkers.

My .02c
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Only one buyer had a mask on.  The sad thing is that those masks don't do jack, the only people who should be wearing them are medical professionals and people who are actually sick.  The N95 masks when worn properly are effective.
 
USCTrojanCPA said:
Had 6 buyers come out to my 109 Henson open house today, a pleasant surprise.
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How's that volume  compared to a month ago?

On a side question, the restaurant's are a ghost town.  That service industry and those that support it are going to hurt really fast.  By May, maybe even by April rents that may come home to landlords of service employees.  Any landlord's think about their response or just autopiloting standard pay or quit notice? 

Have I missed any emergency declarations on that?
 
We went to Paul Martin at Spectrum for lunch.  There were only 2 other parties in the whole restaurant.  Thought it was kinda cool at first but got awkward like 15min later.

Waitress didn?t even want to talk about Corona... they must have been trained or something.  I mentioned the virus traffic slowdown and she immediately changed the subject to the dreary weather.

That?s probably our last restaurant trip until this blows over with all the social distancing shaming out there.  I can?t even decide to take the risk for myself without being finger pointed at for unknowingly infecting others.
 
I will continue to do takeout I think, at least in the near term.  A few of my favorite places are independently owned and always make us feel like family.  I worry about them and how they will pull through.  Chipotle and subway are done until they can revamp their process.  Any restaurant where the people making the food are face to face with the customers needs to be completely avoided.
 
Multi-family operators are very concerned about rent delinquencies come April.  Several cities across the US already banned evictions due to rent delinquencies.  This will be devastating to financially weak owners.
 
I would arrange and setup with the creditors officers / bankers. There are help and the first line of defense is to reach out. At this time and in this era, banks are willing to work and understand. Communication is essential.
 
While I have my mind set on a certain place already, I'm still browsing around online to keep my options opened.

There seem to be less listing available for the 600-800k range now.

Also talked some people at the welcome center and they brought up a good point.

At this rate... if just one person that's infected came into the sales center... that means people they talked to, and everything they touch are potentially infected, along with the construction staff that has regular meeting with them, and visitors later. THAT will throw a big monkey wrench in the whole release and construction schedule.

I'm not saying don't go anywhere... but just keep in mind to keep physical contact with people and objects down to as little as possible if you do go house hunting....

stay safe everyone.
 
Had a thought.

Since most likely we would be spending more time at home (working from home, lockdown, quarantined, etc.), isn't it more reasonable to invest in homes than something else now?  ;D
 
Mety said:
Had a thought.

Since most likely we would be spending more time at home (working from home, lockdown, quarantined, etc.), isn't it more reasonable to invest in homes than something else now?  ;D
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Go ahead. Deflation on the way.
 
eyephone said:
Mety said:
Had a thought.

Since most likely we would be spending more time at home (working from home, lockdown, quarantined, etc.), isn't it more reasonable to invest in homes than something else now?  ;D
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Go ahead. Deflation on the way.
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Thankfully, already own one. Just saying people might be looking to buy homes instead of something else. It was slightly for entertainment purposes only.
 
Update - So the housing market up here in the Bay has basically been suspended. With the shelter in-house directive imposed today, everyone is either holding or pausing their listings, no open houses or showings through early April when this directive is supposed to end.

We were all set to list this Thursday w/ open house this weekend, but now that's all done. Builder sales offices are all closed up here too, and I was told the country registrar is closed as well, so literally nothing can get recorded, no county inspections getting done.

I guess where we from here will depend on how this Coronavirus stuff gets sorted the next few weeks.
 
Just as the super genius predicted.
Also, why would you want people going into your house at this time. (Cough, touching, etc..)


mhanism said:
Update - So the housing market up here in the Bay has basically been suspended. With the shelter in-house directive imposed today, everyone is either holding or pausing their listings, no open houses or showings through early April when this directive is supposed to end.

We were all set to list this Thursday w/ open house this weekend, but now that's all done. Builder sales offices are all closed up here too, and I was told the country registrar is closed as well, so literally nothing can get recorded, no county inspections getting done.

I guess where we from here will depend on how this Coronavirus stuff gets sorted the next few weeks.
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Who's the super genius? Ha!

Yeah - I'm good with the caution for sure. Just from a personal perspective this throws a big wrench into our plans to move down to Irvine, and its not just the house selling, but everything else. Ugh
 
Hypothetical scenario: if someone had the virus and went to the ?open house? the percentage of you getting is high. (Unless you have the open house and do not come back for x amount of days)
:)

mhanism said:
Who's the super genius? Ha!

Yeah - I'm good with the caution for sure. Just from a personal perspective this throws a big wrench into our plans to move down to Irvine, and its not just the house selling, but everything else. Ugh
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USCTrojanCPA said:
I've been hearing that some of the builders are closing their sales offices and model homes.
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I know some of the commercial construction stopped allowing architect/owner to perform site visit, and some inspectors from city is no longer working atm... but didn't expect a total shut down so soon.

welp... guess i'm stuck in my apartment for a while.
 
God my appraiser is supposed to go to my investment property this Thursday wearing mask and other protective gear. Hopefully he can get it done before everything is on 100% lock down, my rate lock is going to expire.
 
So investment properties owners, what happens if the current situation trickledown and they claim hardship and can?t pay rent?
 
AW said:
So investment properties owners, what happens if the current situation trickledown and they claim hardship and can?t pay rent?
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?The Department of Housing and Urban Development is providing immediate relief to renters and homeowners by suspending all foreclosures and evictions until the end of April,? Trump said.
 
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