They send out this survey twice each month – on the 15th and 21st – so these agent comments above were based on their market observations around then. Hopefully they have gotten back to work by now:
We have had 220 new pendings since April 1st, which is remarkable! The 220 is today’s number, of which 47 have already closed. Others that went pending and fell out of escrow are not included.
Seeing any evidence of demand shifting away from density? Here’s some interesting anecdotes from Tahoe pointing in that direction: https://www.tahoedailytribune.com/news/demand-high-for-lake-tahoe-real-estate-amid-virus-shutdown/
Here’s a poll (I said no) with many comments:
Rich people are able to discover/engage more, but we’ll see how many actually pull up roots and go live elsewhere and find new schools/doctors/shops, etc. It doesn’t seem to be a big deal to me but I’m in the business of moving. From your article:
“I measure the state of the local real estate market by who visits my website,” Bednar said. “The web traffic (on laketahoecommunities.com) averages about 30-40 people per day, but now I’m seeing around 150 daily visits. It’s very unusual, the supply of homes is at an absolute all-time low and because of the virus we are restricted on showing homes.”
So, why is there so much interest during the stay-at-home order?
“They all say the same thing, they want to get the hell out of where they’re at,” Bednar said. “I had 19 new clients just sign up in the last three days interested in moving up here. Some people are paying $4,000-$15,000 a month in rent just to buy some time until September/October when there’s more inventory.
“A couple from Phoenix found a really nice property on the East Shore and they’re renting it out for $13,000 per month for three months to get to know the area,” he added.
Renting out a home for a total of $40,000 for three months sight unseen is a bit unusual for Tahoe buyers.
Maybe now people from major cities are seeing how much easier it is to work remotely and they’d rather be in the mountains than in a highly dense area when a national health crisis happens.
“We also have a lot of millennial buyers who are already used to working remotely. They don’t know how long this (pandemic) is going to last, and they’d rather be here,” he said. “The people I’m talking to are looking for a simpler life, a close community. They want the outdoors and don’t want to be stuck in places where there’s a health problem.”
LOL! Good luck getting High Speed Internet to be able to work remotely from up in the mountains!
>>>Maybe now people from major cities are seeing how much easier it is to work remotely and they’d rather be in the mountains than in a highly dense area when a national health crisis happens.
I don’t work at Qualcomm but I’ve heard that you’ll want a booster for your 5G at home.