Parents are the unsung heroes of Corona.
On Monday this week I asked an absolutely adorable five year old boy if he misses being in school. With the cutest expression, he titled his head with a big smile and he said “I’m good.” Mom and Dad are working full time from home on Zoom, cleaning, cooking, home schooling….and doing hard stuff to sell their house – like cleaning out their whole garage, doing some roof repairs and painting, mowing their own lawn… Oh they talk about how their house is a tornado when showings aren’t happening and no doubt we’re all struggling. But that little boy with the big smile loving being at home, and the energy in that house and the way you feel when you walk in that door, and the drawings of stick figures of mom + dad + two kids + dog hanging on the refrigerator with hearts and smiles, make that mom and dad heroes to me.
On Wednesday this week, a different Dad took his little four year old boy on a chartered fishing trip out of Long Beach and when I walked into their home, they had just cooked the white fish they caught on the boat. The little boy was having the fish for dinner, relishing the time he spent all day alone with his dad. Everyone in the house was carefully whispering to not disturb the little girl pirouetting to her dance class on zoom in the living room. Mom was bouncing a smiling 11 month old on her hip. The love in the parents’ eyes for their kids around them and the way they relish the time spent home with their four very young kids made them heroes in my eyes too.
We read in the media of all the laws our state is putting in place allowing tenants not to pay their rent. In real life, I got a call from a client with a very large income property portfolio reporting that he collected 96% of his rents in April. First week in May he was at 84% of rents collected.
In the residential real estate market, we continue to see prices stay the same for another week. There is extremely limited supply and demand exceeds supply, keeping prices stable. Properties listed at current market value get multiple showings and offers.
Loans are happening on residential real estate. A buyer reported that Wells Fargo offered him a rate of 2.7% fixed – with reserves deposited at Wells Fargo. Bank of America removed contingencies on a loan this week. A buyer with a loan at Citi wrote an offer with no loan or appraisal contingency (shocking during Corona.) An independent private lender approved writing an offer with a 27 day escrow period during Corona and he confirmed that the timeline will work.
Staying at home and bearing these times has been a challenge for everyone, and when we are challenged, we turn to our moms and dads to support us through the hard times. To all the moms and dads who are supporting their kids and the people in their household while they juggle so many balls in the air at once, you are our unsung heroes. It is such an honor and a blessing to walk into your homes and to see your smiling kids. We don’t know how you do it but it is so inspiring to work with you! Happy Mother’s Day!
Sheri
