Over the past two weeks, we’ve been doing what many of you are doing: monitoring the market to see how it responds to the changes in our world. When we speak to prospective or current clients, we’re offering our findings, so each person can make informed decisions for their future. It’s always been a commitment of ours to be open and transparent in our communication — whether it’s positive or negative. We do that because it’s the right thing to do and you deserve to be treated that way. So, the same is true with this post. 

Here’s the 4 most common questions being asked with regard to real estate right now, and our fully-transparent answers to them:

1. Are people still buying and selling properties?

The answer is “yes.” Bridge itself is buying. We bought houses yesterday and we plan to buy properties tomorrow. Our team members are doing the same. We all have goals and the market hasn’t changed those goals. If anything, we are poised to buy MORE in this new environment with financing options being so attractive right now.

2. Are properties getting rented?

The answer is “yes.” We’ve spoken with our own property management partner as well as several others in our market who altogether manage thousands of properties across the Kansas City Metro. They are seeing less overall traffic touring the properties, but the properties are still getting leased. They believe the quarantine has made it so only serious prospective tenants are touring and tire kickers are staying at home.

3. Are tenants paying rent?

The answer is “yes.” Again, after speaking with our network, who has been proactive in offering payment plans to tenants who may be in tough financial situations due to COVID-19, so far what we have heard is only a small percentage of tenants are requesting alternative payment options.

4. Are banks and title companies still operational?

The answer is “yes!” The lenders and title companies we work with have been incredibly flexible in this environment to adapt to the new conditions. They’re utilizing technology and working with the relaxed restrictions around notaries, appraisers, etc, in order to continue allowing the purchasing and selling of real estate without any interruption.

So, what next?

This is definitely an interesting time in our world. Full of new challenges and stresses and anxieties. But, it’s also a time of new opportunities. We remain as committed as ever to helping you get after what you set out to accomplish this year. Whether it’s retiring early, getting your spouse home from their 9-5 job, funding your child’s education, or simply building a legacy of generational wealth for your family, your dreams matter to us, and we are poised and ready to help you get there.  A lot of things have changed over the last few weeks, but the power and potential of real estate to help you achieve your dreams is not one of them!