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— July 23, 2020 —

MARKET UPDATE – Q2 2020

Hancock Park Real Estate Market Round Up

 

Q2 2020 began less than 2 weeks after Governor Newsom issued the “stay at home order” and the S&P dropped nearly 30%. Naturally many were fearful and cancelled escrows. Some Sellers withdrew or paused their listings. Others selling vacant homes stayed on the market and a few courageous buyers forged ahead, securing very good properties with far less competition. Regardless of circumstances finding the right home is always THE main challenge in a desirable location such as ours. Real estate professionals, inspectors and movers were deemed “essential”, the stock market rebounded and the public confidence started to come back. Showings steadily increased and Buyers are now competing in multiple offer scenarios again driven by pent up demand. Banks are still lending!

 

The Value of Home and Your Health

 

The Loveland Carr Group is following CDC guidelines for showings and inspections.

  • Masks, gloves, booties and social distancing are the norm and open houses are prohibited.
  • Buyers and their agents now complete a Covid entry forms and provide proof of funds before showings.
  • Loveland Carr continues to adapt to State and Federal guidelines for the health and safety for all.

HOMES ARE STILL SELLING and getting transactions done does require more skill, flexibility and patience to be sure. Inventory is at an all time low and we need more homes to sell to meet demand.

 

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