The 'stay at home' order made its negative impact on the real estate market here in New Orleans.
Local real estate analyst, Arthur Sterbcow, has this advice for people selling their home during this time of crisis.
“There aren’t a lot of buyers out there driving around looking at houses or going to open houses,” said local real estate analyst Arthur Sterbcow. “So, you are going to see some opportunistic-buyers out there regardless of ‘stay at your house’, who are going to want to write up offers and work some of these sellers who are under high levels of stress.”
He also says it is not a good idea to jump at the offer during this time, “I would advise everyone, not to make radical life-changing decisions in this kind of environment.”
He says lenders are on hold right now until the government stimulus package reenergizes home loans. One positive Sterbcow says, is that he sees a lot of homeowners fixing up their houses because they are stuck at home looking for something to pass the time.
