Providing exceptional real estate service has always been my top priority. Now, more than ever, the health and safety of my clients, family, friends, and our community as a whole is of utmost importance.
I have been inundated with questions about the market from friends, clients, and potential clients, and wanted to share my thoughts on SOMA/ MAPSO real estate at this time.
The past few weeks in South Orange and Maplewood have been unlike anything any of us has experienced. Governor Murphy has designated Real Estate as an essential business — with restrictions in place, of course — and this past weekend, parks and golf courses reopened. With restrictions beginning to loosen, real estate activity will undoubtedly increase as well.
While buying and selling may be the furthest things from your mind, there are people whose life circumstances may dictate buying and/or selling as soon as possible. There are buyers who put their plans on hold in mid-March and are now clamoring to get out of New York City or other densely populated urban areas to buy a home in our community. In addition, sellers who have been preparing their houses to sell during the typically bustling spring market have also put their plans on hold, wondering how this pandemic may affect their sale prices.
USA TODAY interviewed me last week to get my take on how the pandemic is affecting my local real estate market and the ways I am continuing to serve my clients in our new virtual world. “Get me out of here! Americans flee crowded cities amid COVID-19, consider permanent moves” was the headline for the Money section story on May 1, 2020.
Like any market, real estate prices are driven by supply and demand. As of today, there are 33 active listings in Maplewood and 34 active listings in South Orange. In April 2019, there were 61 active listings in Maplewood and 50 active listings in South Orange. So far, listing prices have not been affected but in the past 2 weeks we’ve seen many properties sell with multiple offers above the asking price. With demand high and supply low, prices will rise.
Buyers: While open houses are prohibited, one-on-one showings are permitted as long as social distancing rules are followed. I can facilitate video tours of any home, provide virtual consultations, and manage every aspect of a transaction both digitally and virtually.
Sellers: I have a strong digital platform in place, so I am well-equipped to serve my clients virtually, even during these challenging times. I have established some Rules in response to the COVID-19 outbreak as well as establishing a Virtual Home Buying Program and a Virtual Home Selling Program.
Amy Paternite Homes is a top producing real estate team at Coldwell Banker in Maplewood. For 14 years we’ve been helping people buy and sell homes in Maplewood & South Orange and the surrounding towns.