Really - Activity Still?

With all that is going on and the challenging decisions governments are having to make, we have been working with the NC Realtors and the NC Chamber to encourage that real estate services and businesses remain open.  There is currently $8 billion worth of real estate under contract in NC, which does not include commercial real estate.  This is important and will help keep the economy moving forward, tax receipts coming and people employed.  So far, in Governor Cooper's Executive Order 120 from March 23, "protecting lives and property" are part of Section 2 and requires local governments to keep necessary services like the Register of Deeds offices open and we appreciate the Governor's actions for this effort.

We are hearing multiple reports from many agents that buyers and sellers are still very active, looking for property, listing property and closing property.  This is great news and a bright spot in our challenging time.  

We are also working on a number of ways to help our clients.  We are doing virtual tours for homes, hosting numerous virtual listing appointment, communicating with clients via phone, email, text, video and other ways,  working on e-documents and social distancing in person.  Plus we are very much open, producing and appreciate your support, trust and confidence.

Most attorneys have put policies in place to limit the exposure to their offices and have gone virtual, with e-closings or only allowing essential people in the offices only, practicing social distancing.  But we are working closely with them and still coordinating multiple closings and will be continuing to do so as we continue to sell real estate.

We are seeing many swings in mortgage rates.  It is important that you have a trusted mortgage lender and we have a team of professionals that we trust impeccably.  Also, there may be some changes on the mortgage application side and with the tax documents a buyer will be sharing with their lender.  As federal guidance comes out, we will be learning more.  For example, where we were seeing a final income check 10 days out before a closing, we are learning in some cases it is two days or even 24 hours.  Timing will be critical so we will be communicating with the lender and our buyers on that as things progress and change.

Appraisals are still moving forward.  Home inspections are still moving forward, albeit, most are with the home inspector only.  Negotiations are still on going.  

While we are in challenging and unprecedented times, we believe we can get through this and rebound rather quickly.  Please do not hesitate to contact us should you need some counsel. Things are changing rapidly and we are working hard to be learned on those changes in order to best serve and benefit you, our clients. 

Thank you for your support, trust and confidence.  

Brooke Cashion and Associates - Allen Tate