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No doubt about it, the COVID-19 pandemic has significantly impacted all types of industries throughout Florida. The real estate industry, in particular, has been faced with, among other constraints, limited access to some communities, the cancelation of flights from both international and domestic destinations, closed beaches and amenities, and the endless flow of emergency and executive orders from the state, counties, and municipalities. Faced with this evolving scenario, home buyers and sellers across Florida have had to quickly adapt to this highly fluid situation.
How is the Palm Beach County housing market reacting now?
As we face the prospect of safely reopening the economy, the Palm Beach housing market seems to be showing signs of optimism. Home sellers were waiting to have the possibility of having interested buyers physically walk through their homes and not just view them online. Just knowing that this may be possible in the near future has injected the market with new motivation.
Why buying a property in Palm Beach County is a great idea?
Palm Beach County has a long history of attracting buyers from all over the nation as well as internationally. Its unparalleled beauty, magnificent weather, sense of safety and security, and tax advantages have provided potential buyers with housing options that are difficult to match elsewhere.
During the COVID-19 pandemic, as people learn that working remotely is a viable option for them, many have come to realize that there’s no reason to postpone a move to a new home. And, as the markets start to reopen and people are once again willing to consider the possibility of relocating, Palm Beach County will definitely pop up in their radars.
What about rentals?
It seems as if many people that were in Florida either visiting relatives or simply on vacation before the pandemic struck, decided to ride it out in this nice climate rather than returning to colder, more densely populated areas such as New York City that have been at the epicenter of the disease.
Homes for rent, which in normal times are not plentiful in the area, were scarce and quickly snapped up when stay-in-place orders were put in place. Particularly if they were furnished and agreeable to a short-term rental agreement.
Real Estate in a Whole New Light
Brokers, agents, buyers, and sellers have quickly adapted to the new way to conduct business and are regularly seen wearing gloves and masks while being careful to keep socially distant. Brokers wait for their clients outside the homes while they tour the interior, and communicate with them by phone. As usual, owners are away from the premises.
And remember, follow the CDC directives at all times. Wash your hands frequently, carry some hand sanitizer with you and apply it liberally, and never touch your face.
As far as purchasing a property that may call for a renovation, that may have to wait until further restrictions are lifted.
Buy Your Ideal Home In Palm Beach County
Now may be the best time and your best opportunity to acquire your ideal home in Palm Beach County. Waiting until all restrictions are lifted may mean higher prices in the future. West Palm Beach home buyers can get started on their way to ownership right away. You´ll be glad you did.