The Coronavirus is having a huge effect on the real estate market in NYC and beyond – first by essentially shutting down the ability to do showings, open houses, diligence, and closings and then by putting downward pressure on prices, buyers trying to get out of contracts, mortgage payment suspensions for up to 12 months, possible rent relief measures in NY State and much much more.
I am scouring the internet for updates and summarizing the most important ones for you, answering questions about real estate sales, rentals and the market at large each day (pretty much) and posting relevant updates.
Here are some of the recent updates:
The Coronavirus is pushing down real estate prices in NYC:
Important tips and info on Real Estate Contracts and Closings in the time of Coronavirus:
Coronavirus Rent Relief Bill in the Works in NY State and gaining national attention:
Real Estate Construction Shut Down and the U.S. Cares Relief Act
Stimulus Package Details and Virtual Closings:
Fannie Mae and Freddie Mac Allow Suspension of Mortgage Payments for up to 12 Months:
What about Rent Relief? Complications of Providing Rent Suspensions:
And you can find the rest of my updates on all of my social media channels as well:
Instagram @TheRealEstateNerd_NYC
On Facebook: https://www.facebook.com/nycrenerd/
On Youtube: https://www.youtube.com/channel/UCkDabbcUv42JrrL-tXODXqg/
