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March 19, 2020
Dear ,
Like you, Mary Mitchell Miller Real Estate is closely following the news of COVID-19. Kathy and I are paying attention and are adapting and adjusting our work practices, trying to be as prudent as possible and taking precautions very seriously.
Barring the process of actually looking at houses (best done in person!), everything else in a real estate transaction can be done remotely using existing technology and services . . . from starting the search online using
MMMRE's website, to getting pre-qualified and applying for a mortgage, to submitting an offer and negotiating a contract, and even closing on your purchase.
Our hope and intention is to stay positive and focused on the business of helping our clients buy and sell Vermont real estate. The real estate market (like the financial markets) is in a state of flux and we all need to take a deep breath, take the social distancing and orders to stay home or "shelter in place" seriously, and in general we need to slow down and focus on getting through the next few weeks and months as best we can.
As the situation continues to evolve, we are limiting our face-to-face interactions to those situations where and when it is absolutely necessary, and to the extent possible we will be working from home. We hope this will change, but until then we are doing our best to remain active and vigilant, but at the same time keep ourselves and our clients and their homes healthy and safe. We can always be reached by email or cell (contact information below).
The local real estate market has been fairly healthy, although there is a real lack of inventory in all price-ranges! That being said, this recent turn of events may change things and we will have to take things day by day. As it relates to real estate, I can report the following, all of which may cause delays and have an impact on the sale or purchase of Vermont properties.
- Many town and municipal offices have closed to the public.
- Many attorneys are closing their offices to the public and are encouraging closings by power-of-attorney only (no in-person signing).
- We have heard that some appraisers are delaying appraisal orders and it is possible that buyers' efforts to secure financing may be delayed.
- Buyers are - with appreciation - delaying and rescheduling visits for later in the year.
- Homeowners are holding off on plans to list their properties for sale.
- And, finally, some sellers whose homes are currently listed for sale have asked that showings be cancelled or limited.
Additionally, please be aware that:
- Vermont's schools have closed.
- Local ski areas are now closed, probably for the season.
- Lots of local stores and business have closed to the public.
- Vermont's bars and restaurants have closed to in-house dining until at least April 6. Some are offering take-out.
- Our grocery stores' shelves are decimated and restocking is slow and incomplete.
- Our hospitals are already over-burdened. Vermont's hospitals are sized for Vermont's population and the influx of visitors hoping to "ride out the storm" here has already and will continue to be a significant challenge. Currently almost half of the confirmed positive infections are out-of-state residents.
- On top of all of this, it is mud season and many gravel roads are closed to truck traffic through April. This means that some local services are not available (i.e., heating fuel delivery, building materials deliveries, septic pumping, moving trucks).
I am eternally optimistic that 1) we (the world!) will get a handle on this virus, and 2) in time, the real estate and financial markets will stabilize. Until then, we can still:
- Enjoy the fresh air with a walk or hike,
- Begin the spring lawn cleanup as the snow melts,
- Curl up and read a good book,
- Work on all of those "to do" projects around the house,
- Research your next big travel adventure, and best of all,
- Connect and reconnect with friends and family remotely - call, write, email and use Facetime!
On behalf of Kathy and myself, I assure you that Mary Mitchell Miller Real Estate is here for you and we are available to answer your real estate buying, selling and listing questions. We will continue to keep you posted on how things are in our neck of the woods. In the meantime, my new mantra is STAY HOME, GO SLOW AND KEEP HEALTHY.
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