Some observations for your consideration.

  • According to well-educated financial sources, by the time we’re lucky enough to have worldwide access to a Covid-19 vaccine,  (perhaps as long as a year), things may have become very different.
  • Social behavior changes, (working from home, increased home delivery, masking, etc.), are easy to grasp.
  • But the economic beating we will all take, including the accumulation of international debt of unparalleled amounts, may take a long time to repair/normalize.
  • Further, governments may inject some very unattractive cures for their debt problem. Artificial inflation being one of them. (Deflates the cost of the original debt)

A few recommendations.

  • Embrace the value of long-term stability/safety of location because a financially challenging environment breeds crime.  No security system or don’t use it? Now might be a good time to rethink that decision.
  • Have prudent restraint with size/complexity/expense of any project.  Jobs may be in jeopardy and cash = security.
  • Have patience. Many people are now in a very impatient mood to just get outside or, if they are business owners, to understandably want to reopen their businesses. Medical experts, including Dr. Anthony Fauci, say to do so may be premature.
  • According to statistical experts who are monitoring this pandemic, we’re only in the second inning and it’s not going away soon. Protect yourself.
  • You might take some of this info into consideration before making any real estate decision. Call if you’d like to discuss this.

If you’re looking for a real estate investment.

  • Six months from now there will be some real opportunities, (this includes items other than real estate as well).
  • Also, there will be opportunities to buy certain rental units currently used for the STR biz. (reduced Short Term Rental customer base=increased inventory=lower pricing).  Plus Side: This could provide a lower entry price for local home buyers.
  • Keep in mind that the price of most rents will more than likely decline.

There are segments of the market that will continue on more or less unabated.

  • The demand created by outright need, such as professional and military transfers, the $250K-$350K first time buyer market, and of course, the wealthy who can say, “wrap it”, for just about anything they want.

Along with our existing clients, we specialize in first time buyers, and clients over 60.

  • Surprisingly they have a great deal in common.
  • For a first time buyer it’s all new.
  • Long time residential owners are faced with big changes in the real estate industry that can make their knowledge virtually obsolete.
  • In either case, both clients need an expert who can provide a wide range of real support, experience, and knowledge.
  • We have everything our client’s need, including an army of vendors, contractors, movers, counselors, and legal/financial professionals to make their transactions a great success.

* Hint: Thinking about selling?  Do it soon.  Thinking about buying?  Wait for 4-6 months.

Does you’re real estate agent provide you with this kind of information? How would you like one that does?

Call me. 504.579.4717

Stay well,

Middleton O’Malley, Realtor

Licensed in Louisiana & Maine

National Association of Realtors® Accreditations:

SRES (60+ Specialist) 

ABR (Accredited Buyers Representative) 

GREEN (Sustainable Building Practices) 

GRI (Graduate Realtor® Institute)

RENE (NAR negotiator)

 

Coldwell Banker TEC, Realtors

4500 Magazine St., STE 2

New Orleans, LA 70115 USA

Cell: 504-579-4717

Office: 504-899-4040

middie@nolamiddie.com

www.nolamiddie.com

 

Realty of Maine

107 Main Street

Belfast, Maine 04915

Cell: 207-806-8171

Office: 207-338-6800

middie@nolamiddie.com

www.nolamiddie.com

Each Office Independently Owned And Operated

Agent Licensed in LA & ME, USA