Market Update May 2020. Being real.

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Real Estate

3 months ago not a single person would have thought we'd be here today! Can you say wow!

I reported to you via email that San Luis Obispo county pending real estate sales were 66% off in April. That really is a mind-numbing number isn't it?

I want to let you know that the number has improved. So far for the first half of May pendings are off 48%. So the market is beginning to bounce back and may even look better by the end of the month. You can bet that there is some pent up demand building. But we need to be careful with that thought. The reason... an economy that is being impacted by business decline and high unemployment.

I have seen a number of other realtors report, as is typical for real estate agents, cherry picked numbers that make the situation we are in look far better than it really is. I do not think that is the best way to help. I do feel things will get better after this initial shock to the system, but if individuals are going to be able to make the best decisions for themselves, better to look at the facts straight on.

If you are a buyer that needs to act now... be sure to negotiate hard. You stand a great chance of getting a better deal as sellers get scared.

If you are a seller my advice is to sell right now if at all possible. The full impact of lower sales has not hit the market yet. I feel strongly that you'll be able to sell at a higher price now than you would be able to 6 months down the road.

Please call or text me and we can discuss your exact situation and build a successful strategy to make sure you come out of this with the best possible result. More and more opportunities will become apparent... and I want you to come out on top. We. Can. Do. This!!