Corona Virus and the real estate market!
As of right now in the Los Angeles market is trying to make sense of the corona virus and how it is effecting the market. The stock market crash has really panicked a few buyers. Not sure if more buyers will follow suit. Even though there are alot of unknowns with how long we will all be effected by this virus I fully believe that we will get it under containment at not too far in the future and the stock market will bounce back. In the meantime the health officials are telling us to be careful on who we are around and if we touch anything to wash our hands immediately. As I am writing this I received a call from my daughters school letting me know that lausd will be closed for at least 2 weeks starting March 16th and they will play it by ear if 2 weeks time is enough. I go to the gym at 4:00am pretty much everyday and there is a group of people that go at or near the same time. Those people are dwindling by the day. Sporting events and leagues are all getting cancelled and many other venues are also getting cancelled. With all this said I believe it is still a good time to buy a home as the rates are extremely good at this time. Vaccines are already developed and are getting red lighted so we can help the sick. China is already bouncing back and we will too in a short while, in my opinion.
If you have questions on the current market please do not hesitate to call me at 310-383-6281.