Updated: March 20, 2020 10:57 PM
Created: March 20, 2020 08:44 PM
ALBUQUERQUE, N.M.- The housing market has not yet seen a major downturn due to the coronavirus outbreak.
Real estate agent and property manager Austin Wolff said he doesn't see an immediate downturn in prospective buyers or sellers.
However, realtors are being forced to change how they do business. Many of them have canceled open houses.
"We're also making sure if we are doing showings, we are keeping that distance between our clients and ourselves, so we are not cross-contaminating with one another," Wolff said. "Some brokerages, like the one I work for, are really pushing us to do virtual walkthroughs or virtual tours. Other brokerages are offering 3D tours with Matterport technology, so you can sit in your living room and do a 3D scan of an entire house and buyers can do walkthroughs of sellers' homes."
Financing is another big part of the home buying equation. People looking to buy or sell a home should research their lender to make sure they are prepared to handle the uncertainty that goes along with the COVID-19 outbreak.
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