Newsletter Spring 2020
This Too Shall Pass…
While we may all struggle in various ways to deal with this new reality, we wanted to share some words of encouragement and let you know “this too shall pass.” I have received calls and emails from several of you who are concerned about the effects that the coronavirus crisis will have on the real estate market. There will be some effects (that is inevitable) but I believe the real estate market will bounce back rather quickly. The strength of any market depends largely upon supply and demand. The supply of homes in our market is very low right now and demand for real estate in the Venice and Sarasota area is very high. In fact, we began the year here in Venice with the highest number of sales and lowest amount of inventory in more than ten years! In addition, mortgage interest rates are at record lows and many see real estate as a much more stable investment than the stock market.
According to Lawrence Yun, Chief Economist for the National Association of Realtors, during every major recession over the past 100+ years with the exception of one (the “Great Recession” of 2008) housing prices remained stable or even rose. The housing collapse of 2008 was the result of over borrowing, interest-only & sub-prime mortgages, and over construction of housing – none of which are factors today. Housing remains a safe haven today more than ever – not only financially, but also for you and your family!
We are actively working with buyers and sellers both near and far. In addition to traditional phone calls, emails, and texts we also have new and innovative ways to serve you like Facetime, Whats App, Zoom conferences, virtual showings, 3D Matterport tours, and more. We are here even if you can’t be, and we will “virtually” bring Venice to you.
We have several listings on the market and more “coming soon!” If you are interested in what is currently on the market, send us a note or visit our webpage. We will keep you updated on our local inventory or follow us on Facebook and Instagram to stay in touch.
Please reach out to us for any real estate questions, but also if you need a local resource to get you through these trying times. Stay safe, healthy, and we look forward to continuing to serve you and be your Venice resource.
Be well –
Matt & Jessica Ritter
The Ritter Group, Gulf Shores Realty
