COVID’s Positive Effect on South East Housing Market

The secret is out; you do not have to live in the Northeast to have a successful career and can have an increased quality of life by simply relocating somewhere that allows and supports that mentality and culture.

Prior to the global pandemic, people were leaving the North East in droves due to their exorbitant taxes, cost of living and poor quality of life. With the looming threat of coronavirus’s lasting effect on how we “work” and interact, the South East is seeing a spike in demand for properties, with a focus on “expensive” properties. The additional kicker, these buyers are more than qualified!

This increased demand is an opening for those in the South East to opportunize on the low inventory and sell property and land to serious, qualified borrowers who are ready to act fast. As the work force shifts to working from home, the wealthy want more room, literally. Cutting out the necessity for commuting and being close to an office, has freed up the option to live somewhere you can enjoy your outdoor surroundings year-round and not based on proximity to an office. With children’s school years winding down, these buyers want to make this transition prior to the new school year.

Possibly one of the greatest factors that will now be weighed is that cold, dry climates are a breeding ground for viruses. As we start to see what the new normal may look like; there is a shift of precedence being put on personal space, flexibility with jobs to work from home and the health benefits from living in a warm climate. This is creating an additional “virus” for the Northeast losing their wealthy population to migrating and investing their wealth in the real estate in these southern regions.

The States That People Are Leaving

Where New Yorkers Are Moving

 

Don’t miss this opportunity to grow your business, develop new relationships with buyers from North. The Charleston Team’s local presence, extensive licensing throughout the east coast and strong marketing and ties to the Northeast is what sets us apart as a lender. Contact us today to learn more about our products and unparalleled customer service to assist your valued buyers with mortgage financing.

Contact Zach and the Lucy Lending Team today!

zach@lucylendingteam.com

843-469-9010

www.charlestonmortgagelender.com

#covid #covid19 #southeast #northeast #realestate #trends #economy #investment #chsrealestate #mortgage #financing #lending #zachlarichiuta #lucylendingteam #housingmarket