A Daily Update on the Coronavirus and how it is effecting the Naples REAL ESTATE MARKET
03/23/20 - Open House Input has been suspended on our local MLS in an effort to stop the spread of COVID-19
03/23/20 - Market Watch... New Listings: 32, Sold Listings: 43, Terminated Listings: 11, Expired Listings: 8, Pending Listings: 41, Price Decreases: 47, and Withdrawn Properties: 19
03/20/20 - Market Watch... New Listings: 57, Sold Listings: 71, Terminated Listings: 10, Expired Listings: 12, Pending Listings: 40, Price Decreases: 71, and Withdrawn Properties: 22
03/19/20 - Bank of America announces that they will be deferring Mortgage, Credit Card and Car Payments (on a case by case basis.) Learn more here: https://www.housingwire.com/articles/bank-of-america-will-allow-borrowers-to-pause-their-mortgage-payments/
03/19/20 - An observation from our team... today we have received feedback from many of our clients and potential clients with mixed thoughts on the current situation. Truth is, no one knows how this will turn out... some buyers are still interested in buying and taking advantage of very low mortgage rates and some buyers want to wait the situation out. Much of the same with sellers, some want to go on the market now expecting things to get worse and some want to wait it out. Either way, our team is here to help you with whatever decision you choose and constantly looking out for new updates that affect our industry.
03/19/20 - Today, stocks inch higher as stock market turmoil continues. Learn more here: https://www.nytimes.com/2020/03/19/business/stock-market-today-coronavirus.html
03/18/20 - City of Naples officially closes all Public Beaches through March 30th. Learn more here: https://www.fox4now.com/news/coronavirus/city-of-naples-closing-all-public-beaches-to-help-minimize-the-spread-of-coronavirus?fbclid=IwAR1Pe3R8qhIwWgHPDUh6DgU3oMBPRCW0Ogt_muVJ4jvf_5BG7WIgWG_Pj2k
03/18/20 - An observation from our team... today we received an email from a popular lender in our area that stated, they have suspended all Construction and Bond Loans until further notice. If you are currently in the process of obtaining a new construction loan, call your lender right away and find out if the current pandemic will be affecting your loan.
03/18/20 - Market Watch... New Listings: 12, Sold Listings: 31, Terminated Listings: 5, Expired Listings: 11, Pending Listings: 17, Price Decreases: 37, and Withdrawn Properties: 13
03/17/20 - CCPS announces that Schools will be closed until April 15, 2020
03/17/20 - Collier County Beaches will remain open for now, public pools, fitness and community centers are closed.
03/17/20 - An FYI from our team... today a Seller asked if we received a contract on their Listed Home, what would happen since businesses are shutting down for the next couple of weeks. The answer is that it would be business as usual unless anything else changes... but as of now, Mortgage Lenders, Title Companies are still working and Collier & Lee County Clerk of Courts are Prepared to E-Record.
03/17/20 - Free Meals are now available at specific CCPS locations to children 18 and under that are in need. Locations can be found here: https://www.collierschools.com/Page/13751
03/16/20 - An observation from our team... we recently launched a new listing a couple of week's ago that had it's first open house on the 7th of March (which is about a week before most people started panicking about the virus). This last Sunday (the 15th) we held another Open House and it was by far busier than the previous one... with that said we may have just gotten lucky... however, it would signal that buyers are still in need and interested in shopping for a home.
03/15/20 - An FYI to home buyers regarding the Fed Rate Cut... NO this does not mean you can obtain a mortgage loan for 0% interest. For an explanation as to why, here's a great article: https://www.cnn.com/2020/03/16/success/mortgage-rate-fed-cut/index.html
03/15/20 - The Fed cuts rate to Zero to support the economy during the pandemic.
03/15/20 - Popular Local Grocery Chain, Publix has announced that it will be closing their stores at 8PM until further notice.
03/14/20 - CCPS announces that they will be offering Free Meals to children 18 and under that are in need starting 03/17/20.
Resources
Florida Health COVD-19 Website: https://floridahealthcovid19.gov/
Collier County Website: https://www.colliercountyfl.gov/
Collier County Schools Website: https://www.collierschools.com/
If you have any questions or concerns about the Naples Real Estate Market, please contact our team at (239) 438-1102 or via email at hello@Agency239.com.
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