“I had a seller, we were having our first open house, but she has two children who have compromised immune systems and she actually knew the lawyer in Westchester” linked to an outbreak in the area, Keller Williams NYC salesperson David Kong tells The Post. “She freaked out and had me cancel.”
Halstead’s Open House index reports that traffic dropped by 15 percent two weeks ago, the first weekend coronavirus fears hit NYC, and 14 percent last weekend. The stock market, and not just fears of contraction, should be taken into account as a factor in this, the report notes.
“I do have buyers and sellers reluctant to attend closings if it involves taking the subway,” House-N-Key Realty broker Janine Acquafredda tells Realtor.com. “One closing was postponed by an attorney because his client was very ill — exhibiting flu-like symptoms — and didn’t know what she had.”
Rolling up the welcome mat
While their industry depends on getting potential buyers in the door, brokers can’t be so welcoming now. Kong says his colleagues report a significant increase in coronavirus-related open house cancellations, with many implementing new safety policies.
David KongDavid Kong
“Now, before you show anyone, I have to screen them, I have to ask them questions,” about their health and recent travel history, says Kong, adding “not that I can verify it.”
In his 12 years in the industry, he says it’s the first time he’s seen anything like this.
“I had a seller in Manhattan say, ‘I can’t allow anyone who’s recently been to Italy, South Korea or China’ to enter his apartment,” says Kong.
Fear of infection has also limited those still looking.
“We do not have any casual lookers coming by because screening is so tight,” says Kong. Queens and Long Island buyers, he adds, were quicker to become cautious than those in Manhattan. “We’ve been dealing with this for a couple weeks now in Long Island,” he says, while the Manhattan market only became impacted in the last week.
At the open houses that aren’t cancelled, social distancing is on full display.
“In the open house itself people are not shaking hands, there is always Purell,” says Kobi Lahav, senior managing director of Living NY. “Some brokers I noticed refuse showings right now — don’t want to get exposed.”
Going digital
As an alternative to in-person viewings, some agents are turning to tech, offering buyers virtual tours. On Thursday, the NYC-based Ideal Properties Group launched a virtual listing viewer called Showings on Demand.
While Kong previously reserved virtual experiences for larger and pricier homes “where the owners don’t want people parading through their apartment, or if I think the property might be appealing to foreigners,” he’s begun offering remote 3-D tours for a wider array of units.
“It’s not as good as being there,” says Kong, but it works for now.
A screenshot from one of David Kong’s 3-D tours.
Remote listing providers are seeing their business flourish. Roman Caprano’s company, Sky Blue Media, provides virtual tours in the Washington, DC area and Caprano says he’s seeing an uptick in demand for more elaborate tours.
“In our market, homes sell in days, so many agents typically only invest in photos, but now they are purchasing more content,” Caprano tells Realtor.com.
People are even settling for FaceTime to check out prospective homes.
“I discourage the FaceTime tour — it makes everything look smaller,” says Realty Collective broker Victoria Alexander. But with demand staying high and caution levels increasing, it’s become necessary these past weeks. “People that have to move have to move,” says the 18-year industry veteran.
As for how long the open house cancellation craze will last, “I don’t think anyone has that crystal ball,” says Kong. But when it’s over, he anticipates a spike in activity. “I think this’ll make for a lot of pent up demand for when things get safe again,” he says.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
VANCOUVER – Voters along the south coast of British Columbia who have not cast their ballots yet will have to contend with heavy rain and high winds from an incoming atmospheric river weather system on election day.
Environment Canada says the weather system will bring prolonged heavy rain to Metro Vancouver, the Sunshine Coast, Fraser Valley, Howe Sound, Whistler and Vancouver Island starting Friday.
The agency says strong winds with gusts up to 80 kilometres an hour will also develop on Saturday — the day thousands are expected to go to the polls across B.C. — in parts of Vancouver Island and Metro Vancouver.
Wednesday was the last day for advance voting, which started on Oct. 10.
More than 180,000 voters cast their votes Wednesday — the most ever on an advance voting day in B.C., beating the record set just days earlier on Oct. 10 of more than 170,000 votes.
Environment Canada says voters in the area of the atmospheric river can expect around 70 millimetres of precipitation generally and up to 100 millimetres along the coastal mountains, while parts of Vancouver Island could see as much as 200 millimetres of rainfall for the weekend.
An atmospheric river system in November 2021 created severe flooding and landslides that at one point severed most rail links between Vancouver’s port and the rest of Canada while inundating communities in the Fraser Valley and B.C. Interior.
This report by The Canadian Press was first published Oct. 17, 2024.
