Our quarterly @ The Market webcast series typically takes place on location in the Chicago area. That, of course, changed early this month in light of the stay-at-home order that’s in effect in Illinois and most of the country. So co-founders Thad Wong and Mike Golden did what most of us are doing these days and jumped on video conference call.
In this episode, Mike and Thad weighed in with their insights on what’s happening in the housing market amid the COVID-19 pandemic and shared their advice for consumers, who, understandably, have a lot of questions.
After expressing their appreciation for all the people on the front lines keeping our world running, they talk about the technologies our agents are leveraging to keep buyers and sellers on track this spring – from 3D home tours and e-brochures to professionally shot videos, interactive floor plans, and more. The duo notes that @properties is in a unique position to continue moving forward, with the technology and marketing tools behind pl@tform allowing the firm to handle every aspect of business virtually.
So what’s ahead for the local real estate market? In the short term, they expect the market to be considerably slower during what is usually the busiest time of year for housing. But the good news is that the stimulus efforts are expected to help the market recover more quickly than the last recession. Meanwhile, this crisis is creating pent up demand not only among buyers who were in the market prior to the pandemic, but also those who are spending more time at home than ever and gaining a newfound appreciation for what they want in a residence.
Despite the challenges we are facing due to COVID-19, both Mike and Thad are very optimistic about the future of Chicago-area real estate.
“Traditionally, housing brings us out of recessions and it appreciates. Given the strong foundation of the market right now, we are in a very good position for housing not only to recover but to drive economic growth,” Golden adds.
Watch the video to learn more and to hear their key takeaways for today’s homebuyers and sellers.