On Wednesday, March 18th reporter Kim St. Onge from St. Louis’ CBS affiliate KMOV4 interviewed REALTOR® Adam Kruse at his home about Coronavirus and the housing market. The interview aired later that night during their 10pm newscast.
At Hermann London we’ve been doing daily video-conference meetings with all our agents, lenders, and employees to make sure everyone has the most up to date information. We’ve also been focusing on virtual tours/walkthroughs for all of our listings.
The housing market is already seeing a shift. News 4’s Kim St. Onge is looking into what’s quickly become a buyers market, Kim. Sam. this is one of several for sale signs we spotted across St. Louis tonight. A local REALTOR® telling me there’s a shift happening from a seller’s market to possibly a buyer’s market. He adds that a lot of these homes are sitting on the market longer and receiving fewer offers. hey guys thanks for being willing to have this meeting like kind of virtually like this Adam Kruse is doing business a little differently these days I know that I’ll need to come to your house at some point but I thought we could start with kind of our conversation just virtually here the REALTOR® and owner of Hermann London Group is trying to practice social distancing while still selling homes we’re not going to want to do these crazy open houses where 80 families are coming through right we’re gonna want to spread things out a little bit and give people the time to see the property instead. His REALTORS® will be doing more showings on Facebook live this comes as mortgage rates hit historic lows in February some people missed the boat unfortunately because rates have already gone back up rates are not any lower right now than they were a year ago so if you were in a position where a year ago it didn’t make sense to refinance it probably doesn’t make sense right now mortgage loan officer Mark Hirsch tells News 4 there was also a huge spike in the number of people applying for a mortgage loan or wanting to refinance their home the challenge now is whether someone can be approved we have to verify their employment with their employer if there’s nobody there to verify it or they say sorry they’ve been laid off we may not be able to qualify them for the loan in that instance even with so much uncertainty in the market right now Kruse is saying it’s really not a bad time to buy or even sell a home adding that really this could maintain as the sellers the people decide on putting their home on the market. Live in South City. Kim St. Onge news 4