Real Estate in the Time of a Pandemic

By Jan Stevens, Realtor

Our world is upside down as I write this.  We do not yet have the testing or a vaccine to resume life as it was or to know when it is safe to buy and sell homes as we once did.  First, I want to reassure home owners that your home is unlikely to lose value as it did during the last recession from the 2007-2009 time period.  We had a shortage of homes before the pandemic hit and we will still have it after it is contained.  The desire to live in the Northfield area is very strong.  Our community has been on many top ten lists of places to live for several years.  Small college towns are recognized as great places to live for the recreation, arts, education and nature availability.  Our two colleges are certainly affected by the virus but are relatively secure.  Our sense of community is strong.  Just look at the “Mask Sewing Mavens,” the Northfield in Need facebook site, the Key, the Community Action Center and all the other groups donating their time and money to help.  The “Makers” groups springing up are opening exciting knowledge, skill and tool sharing opportunities. Medical care is available and excellent.  We are located between two major medical research centers and physicians want to live here too.  When travel opens up again, our critical location 40 minutes from an international airport will continue to be a positive reason to live in this area.  A Delta Airlines executive said over last weekend that the airline expects to be back to full operations within three years.

As an economist I do not like to make firm predictions but I will use the Delta expectation to say that our local economy will recover within three years.  Our state and local economies are dynamic and robust enough that I expect new opportunities for most of those who have lost jobs.  If your immediate purchase or selling plans have been dashed by the recent events, it is time to work on a plan to buy that first home or to get your present home ready to sell.  Realtors work with clients to set goals to save money for home purchases and to fix up homes with the best return for your time and money.  My expertise in particular is in financial planning, budgeting and home trends.  I enjoy sharing plans and ideas in these areas and consider that part of my job.  Many buyers and sellers are all ready to do business as soon as possible and the real estate businesses are ready to serve.  We are still here to make the American Dream a reality.

Jan Steven, Realtor® with Coldwell Banker, can be reached at
507-244-0500 or janstevens@realtor.com.

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