michelle April 1, 2020
We hope you and your loved ones are keeping well.
As the COVID-19 situation continues to unfold nationwide, federal and state governments are taking steps to address the economic shutdown. This includes the decision on Saturday to add residential and commercial real estate services to the list of “essential” industries. Agents and most of the industry’s other service providers are now exempt from local and statewide social distancing orders.
However, Mosaik Real Estate continues to take the CDC’s guidance very seriously, and we are committed to doing our best to minimize exposure to the virus for our clients, ourselves, and the general public. It’s on us to adapt our way of working to meet the challenges of this moment.
A number of large banks are offering temporary deferment of mortgage payments to homeowners affected by the crisis. You can read a list of those banks here, and we encourage anyone experiencing loss of income to get in touch with their loan provider and explore their options. However, some agreements require full repayment of the total deferred amount at the end of the deferment period. This arrangement can put already cash-strapped families under further financial strain.
The California Association of Realtors has created a Coronavirus Addendum to protect homebuyers (as well as sellers) from unforeseen changes to their finances. If, for example, a buyer loses their job during a transaction, the Close of Escrow may be postponed and/or the sale can be cancelled without loss of deposit. This protection encourages buyer activity at an otherwise uncertain time.
Despite now being able to host them, we have decided that traditional open houses and in-person showings are unnecessarily risky at this time. Instead, we have decided to host virtual tours using Zoom. For more information and to tour our newest listing, check out onemissionbay102.com! We hope you’ll join us on Saturday or Sunday.
While this is an uncertain time for most of us, we want to ensure homeowners, buyers, and sellers have access to all the information they need to ride out this storm. So please get in touch with any questions — we would love to hear from you. And stay safe!
Stay up to date on the latest real estate trends.
Michelle Kim | January 31, 2025
Quick Take: Home prices declined modestly in Q4 2024, showing atypical price stability in the second half of the year. Because prices didn’t contract significantly in … Read more
Michelle Kim | January 31, 2025
Quick Take: The median single-family home prices fell in December but are still near their record highs with the exception of Marin, which peaked at over $2.2 million … Read more
Michelle Kim | January 31, 2025
Quick Take: Median single-family home prices rose in 2024, following historical seasonal trends. Single-family home prices in Santa Cruz saw the largest gain, up 20%. … Read more
Michelle Kim | January 31, 2025
Quick Take: Month over month, median prices fell across most of the Bay Area in December. We expect prices to contract in January 2025 before rising in the spring and … Read more
Michelle Kim | January 31, 2025
Quick Take: Median home prices rose in 2024, following historical seasonal trends. Single-family home prices in Contra Costa and condos in Alameda experienced the larg… Read more
Michelle Kim | January 31, 2025
Quick Take: The median home price fell 2.5% month over month, while condo prices declined 4.3%. We expect prices to contract in January 2025 before rising into the spr… Read more
You’ve got questions and we can’t wait to answer them.