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Real Estate Market and Covid-19

How to navigate the real estate market during the coronavirus pandemic and stay-at-home orders.

There are many uncertainties right now and some people may wonder the status of the real estate market. Art Hayes, a realtor with Lake's | Sotheby's International Realty, said now is now only safe to transact in the market, but a great time to as well.

Hayes shared that sales through the first quarter of 2020 were up compared to the same period in 2019, despite the rapid progression of the Covid-19 situation.

The market continues to be strong as interest rates are an historic lows.

Real estate has been deemed essential, but business looks different as changes are being made to ensure the safety of all involved.

Hayes said the reality is that no one is going to buy a home without physically visiting the property, but initial showings are being done virtually.

Once the high-interest homes are narrowed down, precautions will be taken when visiting the homes such as wearing gloves and masks. Lights will be left on and doors open to minimize touch points.

Once the purchase agreement is executed, the inspection, appraisal and closing will be done with as few people as possible to minimize interactions.

Hayes encourages anyone with questions about buying or selling to contact him at arthur.hayes@lakesmn.com or visit www.arthaysrealtor.com

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