Leah Caro On Real Estate in the New Normal
By Leah Caro, President, Park Sterling Realty
Jun. 10, 2020: Real estate is back in business, but it is not business as usual.
Here’s a rundown of what’s been happening in Bronxville real estate, and what buyers, sellers, tenants, and landlords should anticipate as we work in the “new normal.”
On March 20, 2020, Governor Cuomo issued Executive Order 202.6, directing all non-essential businesses to close, and unlike many other states, in-person real estate dealings were deemed non-essential.
For a minute, we thought the real estate market would freeze. It didn’t.
In-person, agent-to-consumer showings and listing appointments were off the table for sure, but in the age of technology, access to properties went on. Virtual tours, virtual open houses, video, facetime, and of course, zoom became integral pieces of helping buyers see properties, and sellers have their homes exposed to the buying public.
From April 1 to June 1, 2020, 893 residential properties in Westchester County went into contract. In the 10708 zip code, thirty-three residential properties went into contract. In Bronxville Village, 15 residential properties went into contract. Of course, this number is lower than what would typically be considered the heart of the spring market, but it demonstrates that buyers want to buy and sellers want to sell, even during a global pandemic.
On Tuesday, June 9, Phase 2 of re-opening started in the Hudson Valley, which includes Westchester County.
Brokers and staff will once again occupy Park Sterling Realty, but the ground has shifted, and we want you to know what to expect.
The New York State Department of Health has issued a 13-page mandate for real estate brokerages, and these firms must affirm that they are in compliance with the mandate to begin Phase 2 opening.
Parts of the mandate will affect consumers, and we want you to understand them – it’s really all common sense.
-Face to face, agent-to-consumer contact will be permitted, with 6-foot social distancing and face coverings. This means properties can be shown in person, with, of course, the sellers’ consent.
-Buyers/tenants should anticipate driving separately from their agent to the property (or you could all walk – we are a very “walk to all” town).
-Please know that all agents are required to submit a daily health questionnaire before engaging with the public or entering our office.
-Buyers/tenants should expect to fill out and sign a form asking about their exposure to COVID-19, along with a COVID-19 disclosure form. Sellers/landlords will be filling the same form too.
-Non-essential parties should not attend property showings, i.e., extended family and friends. Every occupant of a property must vacate while buyers/tenants and their agent is on the premises.
And there are other requirements that your Realtor will be able to go over directly with you.
For the brokers of these agencies, the mandated protocols are extensive, but they are for the safety of staff, sales agents, and consumers and are being implemented with great care, including daily health questionnaires, sanitizing stations, and fewer on-site personnel.
Bronxville and nearby has always been a coveted place to call home, and I have every confidence that it will continue to be the case.
As city dwellers decide that their 4-person, 2-bedroom apartment really isn’t all that comfortable, I believe we’ll see a strong pool of buyers looking to our beautiful Village to spread their wings.
If you have any questions about real estate in the “new normal,” please don’t hesitate to ask.
Photo courtesy Park Sterling Realty
Editor's note: As a public service, MyhometownBronxville publishes articles from local institutions, officeholders, and individuals. MyhometownBronxville does not fact-check statements therein, and any opinions expressed do not necessarily reflect the thinking of its staff.
