COVID-19: How Deep Will The Impact Go?

Looking to the Future: What the Experts Are Saying

Looking to the Future: What the Experts Are Saying | MyKCM

As our lives, our businesses, and the world we live in change day by day, we’re all left wondering how long this will last. How long will we feel the effects of the coronavirus? How deep will the impact go? The human toll may forever change families, but the economic impact will rebound with a cycle of downturn followed by economic expansion like we’ve seen play out in the U.S. economy many times over.

Here’s a look at what leading experts and current research indicate about the economic impact we’ll likely see as a result of the coronavirus. It starts with a forecast of U.S. Gross Domestic Product (GDP).

According to Investopedia:

“Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country’s economic health.”

Looking to the Future: What the Experts Are Saying | MyKCM

When looking at GDP (the measure of our country’s economic health), a survey of three leading financial institutions shows a projected sharp decline followed by a steep rebound in the second half of this year:A recent study from John Burns Consulting also notes that past pandemics have also created V-Shaped Economic Recoveries like the ones noted above, and they had minimal impact on housing prices. This certainly gives hope and optimism for what is to come as the crisis passes.

Looking to the Future: What the Experts Are Saying | MyKCM

With this historical analysis in mind, many business owners are also optimistic for a bright economic return. A recent PricewaterhouseCoopers survey shows this confidence, noting 66% of surveyed business owners feel their companies will return to normal business rhythms within a month of the pandemic passing, and 90% feel they should be back to normal operation 1 to 3 months after:From expert financial institutions to business leaders across the country, we can clearly see that the anticipation of a quick return to normal once the current crisis subsides is not too far away. In essence, this won’t last forever, and we will get back to growth-mode. We’ve got this.

Bottom Line

Lives and businesses are being impacted by the coronavirus, but experts do see a light at the end of the tunnel. As the economy slows down due to the health crisis, we can take guidance and advice from experts that this too will pass.


Where Sellers Are Finding the Greatest ROI : Washington-Arlington-Alexandria, DC-VA-MD-WV Real Estate

Home sellers nationwide last year saw a $65,500 home price gain on an average sale, the highest level since 2006, according to ATTOM Data Solutions’ 2019 Year-End U.S. Home Sales Report. That represents a 34% return on investment compared to the original purchase price.

The Western states continue to see some of the highest returns. For example, in San Jose, Calif., owners saw an 82.8% average gain, followed by owners in San Francisco at 72.8% and in Seattle at 65.6%, according to the report.

See average gains at resale in the top 20 U.S. metro areas.

#DMVRealEstate #DCMetroArea is listed at the bottom

Source: Where Sellers Are Finding the Greatest ROI


SOLD: Why Working With An Experienced Listing Agent Is So Important.

There’s only so much sellers can control, the key is adjusting to the things they can’t. An agent’s true value is helping a seller navigate one to minimize the other. So what happened with Vaughn Landing? It closed 7 months and 3 contracts later. A three year old townhouse with one past owner in Germantown, MD, conveniently located, minutes from MARC station, highways and shopping.

The seller had gone through all the listing steps to prepare the townhouse for market. They priced it well, given its meticulous condition, market trends at the time and comparable units.

  • The first contract was ratified in 12 days after initially listing it. The buyer decided he wanted to live somewhere else (that is what I was told) and he walked on the home inspection.
  • The second contract, despite having a gainfully employed buyer, a lender letter saying income had been verified and finances run through the mortgage lenders DU (document underwriter) system, the buyer was denied financing due to insufficient funds.

Nothing the seller had done or not done landed him in this situation. What is the best strategy in this scenario?

  • Accept that there are several moving parts to a real estate transaction and no one controls the entire process.
  • Circle around to the very first consideration of step # 3 of the sales process keeping in mind the time already on the market.
  • Work with the information/feedback your agent has collected to decide what adjustments, if any need to be made and when to put it back on the market.
  • Remember time is of the essence.

First Time Home Buyer

A real estate transactions success relies on ALL parties involved doing their part well, including agent, clients, inspectors, lender and title. The value is beyond measure when you’ve been connected to professionals who work together to get it done. Your agent is with you from the beginning, throughout closing. They’re in the optimal position to bring everyone together. An agent’s network of professionals is part of the value they add.

From left to right: Malcom Crane, Lender, Laurel, Happy Buyer Adrienne, Deirdre Brown, Title Attorney.