Timing Is Everything
Timing Is Everything
We are getting new LED lighting installed in our parking lot right now. It’s the green thing to do and it will save a lot on utilities. It is always a good idea to save money and energy. The timing of these two gentlemen is, however, the topic of our conversation today.
Two days ago it was 58 degrees outside and the equipment you see them using was in the parking lot available and ready to use. Today it is 6 degrees outside. Personally I would have rather been doing this job at 58 degrees.
9-11 changed our country and the world economy. The world trade centers in New York were destroyed. There were no civilian aircraft flying for over a week. That act on that day affected the world’s economy for years to come. The Covid-19 virus is also affecting our world economy. I understand as the owner of two small businesses the immediate pain that we are feeling and it is very personal. You can’t sell Easter Cards after Easter and what do you do with a store full of chocolate bunnies? We are paying employees to stay at home or work from home. The rent, utilities, payroll, marketing costs all continue with no income.
The shops in downtown Estes Park are closed. The state of Colorado is shut down for business with the exception of essential businesses. Some resort communities (Crested Butte, Gunnison and after today maybe Park County) are not allowing visitors. If you don’t live there- you can’t come in.
Real estate is being treated differently in almost every state. Some states Realtors are ignoring the stay at home order. Some states have very specific guidelines as to what is and isn’t allowed backed up with fines, prison time and the cancellation of Errors and Omissions Insurance.
If your home was listed before the stay at home order in Colorado it can continue to be listed. We can not, however, show homes with prospective Buyers. We can not show homes that are occupied. We are allowed to do “virtual showings” on vacant homes.
If you decided today to list your property we are not allowed to do any marketing for new properties which includes pictures. We are not allowed to let photographers into a property to take pictures.
We are all aware that the Covid-19 Pandemic will be going away. They will find a cure and a shot for the new strain of Covid Virus. The Covid Virus has been around for a long time, it is the common cold, the flu and other related sicknesses we deal with every day. The strain 19, however, is new and it is deadly. Once a cure or inoculation have been developed we will be able to go back to work. Will it be the same? No, it wasn’t the same after 9-11.
Estes Park has gone through three major floods. Two of them destroyed downtown, one all roads leading into and out of Estes Park. We have survived the fires, floods, 9-11 and we will survive this.
Buying or selling a home? You are of course wondering about your timing. If you are Buying- interest rates are extremely favorable right now and it’s a great time to buy. Selling? Inventories are at an all-time low and a great time to put your home on the market. Lawrence Yun leading economist expert in housing says that we have very strong demand and interest rates are at an all-time low. He does not see our current situation allowing for home prices to go down.
Timing is everything – now is the right time to list or sell your home if you have been thinking about it.