Coronavirus Pandemic Unfolds 2020_Colorado Group Realty

Like you, we are watching with hope and concern as the Coronavirus pandemic unfolds here and across the globe. A few quick notes on Colorado Group Realty’s plans and thoughts:  For now, our office remains open on a very limited basis. We have a few people staffing the office, while others work from home. Agents and clients should only come in the office if absolutely needed.  If your property is currently listed for sale with us, we will continue to market it as always.

Expect logistical changes to showings, such as asking you to thoroughly disinfect your house. It is up to you and your agent if you want to host open houses, however we don’t believe this is the most effective marketing tool at this time. Expect more use of videography as a thoughtful marketing platform. Unfortunately, it’s likely that buyer activity will decelerate as potential buyers wait until the situation stabilizes.  If you are currently looking to buy a property, the search for the right place will continue…of course, with extra precautions limiting social contact. Agents may ask you to drive in separate cars and some sellers may simply not allow potential buyers into their homes right now. Live video showings may be necessary.  With the closure of Steamboat Ski Resort, there will be a massive drop-off in visitors, greatly reducing overall real estate activity. With the closure of local schools, caring for children is top priority, also likely slowing activity.  It remains to be seen how long this will last, but the underlying fundamentals of the Routt County real estate market are strong. While we have seen a few buyers choose to suspend their searches, homes continue to go under contract daily and nearly all transactions are continuing to move forward to closure. Routt County is a desirable place to live, meaning buyer demand is always healthy. Mortgage rates are near all-time lows. Unlike in 2009 when oversupply led to price declines, current active inventory is near all-time lows meaning home values don’t have much room to fall. In time, we may view this as an opportunity.

As your neighbors and friends, we are here to help you. A meal, a ride, a babysitter…just ask, we would be honored to help.

We are doing all we can do protect our families, friends, clients and community. We remain positive and know that our country and Routt County will get through this stronger than ever. Times like these bring the world together and are an opportunity to show that love always wins over fear.

Your Friends, Neighbors and Realtors Colorado Group Realty