While our real estate didn’t get as affected as other states and many claim they didn’t really see their pipeline too affected, numbers overall did go down a bit in the state. However, with the reopening, we expect our sector to slowly catch up close to where it was. Full recovery doesn’t seem realistic but a rebound is already being predicted by many.

Some of the things that are changing with Florida’s reopening

We are now able to show homes and sellers start to feel a bit more confident in allowing others to go through their homes with health and safety measures. Sanitation and distancing is still in place.

As for large open houses, they’re not recommended. Realtors should continue with individual showings instead of large open houses for now.

Interest rates are still at an all-time low which is definitely a plus for many and incentivizing purchases.

Some of the things that are here to stay

One of the things that are here to stay for the long run is the virtual and 3D tours. Buyers and sellers have both seen the benefit of this tool saving them time on choosing which houses to go visit, selling faster, and for many out-of-state investors, saving a trip or not having to base the purchase on someone else’s opinion.

Financial restrictions from the banking sector. As long as the uncertainty remains, some of the conditions to borrow will be a bit stricter according tp many. Banks just want to ensure that borrowers are ok not just now but in the future.

What the future holds

On the short-term, with everyone locked up the last few months, we believe summer and fall will be high seasons for real estate. Hurricane season will determine some of this though so, we’ll stay on top of those predictions.

Even thought it’s hard to predict the future, with a higher demand we think there could be an inventory issue which was already a challenge we had in some areas in FL where demand was higher than inventory. This would also prompt more new construction giving buyers more to choose from.

With the growth of unemployment and the current uncertainty buyers arfe going to be a bit cautious on the amount of their investment trying to keep savings on the side and maybe buying lesser of a home or mortgage than they would have in the previous economy.

Maria Flores-Garcia

La Rosa Realty Kissimmee

Tel: 407- 930-3530

Cell: 407-591-2670

info@larosakissimmee.com

3032 Dyer Blvd, Kissimmee, FL 34741