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The Real Truth About Real Estate After the Pandemic

The Real Truth About Real Estate After the Pandemic

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How Creighton Realty Partners is Moving Forward and Bringing Certainty in an Uncertain Market

The COVID-19 pandemic radically changed the way we do life. For weeks, residents of Montgomery County were confined to their homes. Businesses were closed, wondering when they could open their doors again. The economy was headed into a recession. There were so many questions without answers. It seems we were and still are living in a world full of uncertainty, and almost no one is immune. 

The real estate market is no exception. Many people who were planning on buying a home are expected to be nervous. While recessions typically don’t have a huge effect on the housing market, pandemics are a unique exception. During past worldwide health scares, home sales have dropped during an outbreak, but housing prices have generally stayed the same with little change. Will that happen again? Will we be surprised by a rebounding market? Whatever lies ahead, home buyers and sellers are looking for clarity, and a voice of wisdom. 

Tamarah Courtright Curtis of Creighton Realty Partners is facing the uncertainty head on. “We have had to make many changes as to how we conduct our business on every level,” she says.”From homeowners not allowing showings due to fear of changes in the mortgage industry to how the actual closings are performed by the title company. However, we rolled with the punches and trudged forward, not knowing what each day would bring. I get multiple calls a day from clients asking me what is going on with the market and what my predictions are for the 2020 real estate market. Everyone wants to know how to proceed and if it’s a good time to buy, sell or invest.”

Having been through several recessions, including the housing market crash of 2008, Tamarah falls back on her experience and time-tested wisdom in real estate. As a “Top Ten” real estate agent in the Houston region for nearly a decade, and with over $33 million in sales last year alone, she knows the real estate market and what home buyers and sellers are looking for. 

Her perspective is timely as she looks back over the ups and downs in the market over the last decade: “I went through the subprime crisis over 10 years ago and that event had a much greater impact on the real estate market than we have seen of COVID-19. Subprime crashed most real estate markets and it was very difficult to get a loan.”  

Early on during the shutdown, people began to get nervous. Tamarah knows first hand what people were going through and is quick to point people toward the light at the end of the tunnel. “During the beginning of the COVID-19 shutdown, people were panicking, not sure what to do,” she says. “Should they proceed to purchase? Will they have a job? All thoughts and anxieties we all felt during a time when the future was unknown. However, the market did not stumble, and everyday I see it getting healthier and running strong. During the two months of quarantine the overall numbers of new sales contracts decreased around 50%. However, May 1st we saw a new confidence in the buyers and sellers and saw a significant rise in contracts, showings and newly listed homes.”

You would think that all the economic uncertainty would cause people to hold off on buying or selling their home. At the very least, you might think that more people would be selling their homes (perhaps for less than they’re worth), hoping to let go of debt and get a bump in cash flow. However, the market is actually surprising everyone right now. As Tamarah explains, “The number of buyers are now outnumbering the number of listings available for purchase. If homeowners are on the fence about listing their homes for sale in 2020, I would advise to list.”

Another surprising fact brings good news to sellers: “The prices have not dropped (unrealistic seller’s prices have dropped to a more reasonable list price). Buyers are still relocating to our county and they need homes! All price ranges are selling and a lot of them are selling very quickly,” says Tamarah.

While the world is full of uncertainty about the future, it seems not everyone succumbing to the fear. The housing market in Montgomery County is a great example of how people are eager to move forward, brush off the dust from the quarantine, and look to the light in the darkness. Tamarah Courtright Curtis is one such light, helping people navigate the already tricky home buying and selling process with confidence. 

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Lastly, Tamarah reminds us of the fighting Texan spirit, and our state’s grit in tough times: “Have confidence in Texas! Texans are strong, tough and persevere through hurricanes, oil/gas industry ups and downs and now, Pandemics!”

That is perhaps the most rock solid truth we have to stand on: We will get through this. We will rise back up. We will move forward and find a way to not just survive, but thrive. 

If you are looking to buy or sell a home, now might be a much better time than you think. Put your trust in a local real estate agent who’s been through every market up and down and can lead you on the right path, pandemic or not.

Tamarah Courtright Curtis is a Broker, Realtor® ABR® serving the greater Montgomery County area. To get in touch with her about a home purchase or sale, or to learn more about her take on the pandemic and the real estate market, you can reach her at 936-844-SOLD, or go to www.mocorealty.com.

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