First of all, at Better Off House Buyers we want to express our sincere sympathy for everyone hurt by the coronavirus, whether physically, mentally, or financially. For your safety and others please follow the guidelines of the authorities and those outlined by the CDC.
During the current crisis we have seen a substantial change in the direction the real estate market in Portland, OR has taken. Fear of getting the virus, loss of income and uncertainty about an unknown future has resulted in fewer sellers and buyers.
Coronavirus Impact on Portland’s Life Style
Governor Kate Brown issued an executive order to safeguard the health of Oregonians from the global pandemic. As in the entire state, Portland is seeing the numbers drop in most industries and the real estate market is no exception.
With the practice of social distancing, the indefinite closure of non-essential businesses, the collapse of the stock markets, as well as the decision of many companies to stop contributions to 401K retirement plans. The number of home buyers has decreased considerably.
The opportunity to sell a home in the Portland area has dropped by more than 27%. There are still many properties for sale but it can be said that they have no offer insight.
According to the state health authorities, we are still weeks away from the coronavirus crisis peak. All preventive measures must be taken to avoid the spread of the Covid-19.
Starting in May many supermarkets will require their customers to wear masks and keep the six-foot distance. Portland is studying the possibility of reducing the amount of traffic on the streets beginning on day 4.
All parks and nature reserves will remain closed to the public until the last week of May.
Lenders And Banks Reaction To The Crisis.
Despite the fact that the Federal Reserve lowered interest rates to zero percent and that Portland’s interest rate is around 3.7 percent, the mortgage loan market continues to decline.
Banks and professional lenders do not feel safe in these times of crisis, because loan applicants do not offer the guarantee of a stable income.
Today it is more difficult for a home seller to be sure that the bank has approved the loan to its potential buyer.
For the past 18 months the Oregon real estate market has been one of the most stable in the country. But at the end of the first quarter of 2020 there was a decrease of approximately 6 percent. Everything seems to indicate that if the coronavirus pandemic continues, we will continue to see a decline in the line of the loan market.
At Better Off House Buyers we have enough resources to make real estate purchases because we do not depend on banks. We have our own capital.
Selling Your House In Coronavirus Time
The favorable time to sell a property depends on many factors, without a doubt Spring and Summer are the best seasons of the year to sell a house. The current scenario is very different when the entire world struggles defending itself from an invisible enemy such as the pandemic that plagues us.
In the US we are experiencing situations that we did not have since the great depression, unemployment rates reach numbers that we have never seen before.
Fortunately Portland still doesn’t have as many fatalities as other cities and states around the nation.
Thinking of selling a house in the traditional real estate market right now is not the best decision . But, what should you do if you need to sell your property?
It may be that apart from the pandemic you are going through a critical moment.
Job loss, maybe you have a property without tenants. Facing a foreclosure.
During these crises people consider bankruptcy. Maybe you are going through a divorce.
In situations like the previous ones, it produces a lot of stress. And it may be that putting a property up for sale right now increases anxiety.
But if you need to sell your house without taking effective action, it’s even worse.
At times like these caused by the Coronavirus there is a light at the end of the tunnel.
The best solution is to sell your house to an investor.
Our team will answer your call. We offer a fast and clear process, and a fair price for your property, we’ll put cash on your hand as fast as seven days.
Protect yourself, stay home.
The federal government, state government, The mayor of Portland, and health authorities have taken all necessary measures to protect the population from the coronavirus outbreak. It is very important that we all follow the instructions to protect our health and that of others.
Covid-19 is known to be an infectious-contagious virus of the Sars family, it has a longer lifespan than other viruses. It is easy to be transmitted and it is filtered to the human body through the mucous tissue of the mouth, eyes, or nose.
Due to the lethal effects it has on the respiratory tract, social distancing, six feet between people, excessive hygiene, and constant hand washing with soap and water are recommended.
To minimize contagion, the authorities have recommended self-isolation, which if we strictly follow it. We will soon be able to return to our daily lives.
Please, we all can contribute to lessen the pandemic. Stay home.
At Better Off House Buyers We Can Help
If you need to sell your house, comply with the rules established by the government and the health authorities could it be an almost impossible task right now.
Selling a property through a real estate agent under normal conditions takes a minimum of 120 days. Listing, paperwork, and receiving visits from potential buyers. Plus Waiting for the bank to grant the loan to the buyer. Can consume a lot of time and energy.
In many cases the business does not go to a happy ending.
In the current situation of contagion of the coronavirus, it is very risky to receive strangers in your home. You may put yourself and other family members at risk
We Better Off House Buyers want to protect your health, your family, ours and that of our entire community. We have created the Video Call service and virtual tours using today’s technology.
It is so easy. You communicate with us and we make an appointment for a virtual visit. If you prefer, you can make a video where you give us all the information you can about you and your house. The more house images you record in the video the more they help. We will respond within 24 hours, we’ll set an appointment for a visit in person.
The visit in person will be very short because we will already have a lot of information about your house thanks to the virtual conference.
During the visit we will take all precautions so no one will be at risk of any contagion.
We will wear gloves, masks, shoe covers, hand sanitizer and disinfectant to clean any surface we touch.
The sale process is very simple, comfortable and fast, we will buy your house as it is, the paperwork and other legal matters take a few days and you can have your cash on your hands in no more than seven days.
Even in the time of coronavirus you can sell your property, contact Better Off House Buyers. We buy it.