By Lin Logan and Eric Bach
We’ve received numerous questions regarding the coronavirus and its impact on the real estate market at Lake Oconee. It’s important to note that it’s far too early to give concrete predictions as it relates to the coronavirus amidst the health crisis and economic volatility. What we can tell you is we’ve still received frequent contact from both buyers and sellers interested in listing and buying property here at Lake Oconee. Though there is an aura of caution, property has continued to sell despite the unknown territory ahead.
At Kim and Lin Logan Real Estate, we’re working hard to service our clients, set up showings, market our listings, all while taking every precaution we can to protect our agents and clients.
Looking Ahead At The Real Estate Market in 2020
The real estate market is 2020 was red hot leading up to the covid-19 pandemic. Nationally, there was a 6.5% increase in sales across the board. Locally, sales have continued to be strong up until the early weeks of March. Going forward, the overall effect on the market will be dependent on how long it takes the national market to get back to a normal business environment.
Specifically, businesses/restaurants re-opening and being able to conduct their affairs in a normal manner will play a large role in the economy going forward. If slowdowns and shutdowns last a matter of weeks, the effects could be minimal. The longer the economic slowdown persists, the more damaging the fallout will be to the economy and real estate market as a whole. Keep in mind that historically, our local real estate market performance has closely followed the long term trends of the stock market. If history is a guide, that will be a good indication of what we can look for in our market going forward.
AT KIM AND LIN LOGAN REAL ESTATE we are choosing to operate with a positive outlook going forward. We will be following the guidance from our government and trust that this great country will get through this crisis as we have with all previous ones – WITH FLYING COLORS! We remain optimistic about our market going forward and will be available to do whatever we can to help our clients.
FOR OUR SELLERS: as we said, buyers are still out there, we will continue to market your property at the highest possible level and will keep a close eye on the market trends for you.
As always, please contact us with any questions or if we can help in any way!
-The Kim and Lin Logan Real Estate Team
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