Coronavirus Impacts Lake
Due to the uncertainty of how long
Covid-19 will be affecting our nation’s health and economy, we have seen an
increase in the number of contracts across the lake area and including all
property types falling through the last two weeks of March. At the same time, properties continue to go
under contract at a good rate and closings are happening daily. I have not seen an unusual increase in new
properties on the market. My office is
talking with buyers and sellers every day at about the same rate. We are handling more initial home viewings
via video and in person showings have dropped considerably.
Currently, my staff and agents are working
primarily from home. We are screening
everyone prior to physical meetings. When viewing homes, my clients and I have
been taking separate vehicles and meeting at the properties. I
unlock and open doors and turn on lights throughout, wear gloves and ask that
everyone refrain from touching anything in the home. I also hand sanitize before and after and maintain
a physical distance of about 10 or more feet in order to protect my clients and
my family. At closings, title companies are allowing only
the buyer or seller into their offices and are encouraging anyone that can
close electronically to do so.
With school and extracurricular activities
suspended, plus so many people working from home, the lake area has seen the
early arrival of second homeowners taking advantage of their lake homes. With
other areas of the country experiencing high infection rates, people are also
booking vacation rentals and coming to the lake to shelter in a much less
populated area. The lake itself has seemed to respond with
beautiful Spring days and perfect boating weather. It feels more like June than March
lately. I don’t have any hard data to
share but, anecdotally, I have spoken with grocery providers who say the supply
orders are closer to summer numbers than amounts they usually experience this
time of year.
Area restaurants have switched to curbside
and dockside service. Owners are doing
all they can to continue to provide their employees with income and many are
also assisting them with food for their families. At least one local distillery has switched to
making hand sanitizer – and is giving it away at no charge. Local food pantries have adjusted their procedures,
but volunteers are still helping keep lake area families fed. Keep them in mind if you are fortunate enough
to be able to help with financial donations.
There is no other community I
would rather be a part of in a crisis.
The Lake of the Ozarks is both safe haven
and happy place for so many people across the country. At this point, the market is holding its own
and I feel good about the outlook of where we’re going to be in three to six
months. I think we will see a similar
effect to what happened after 9/11. Families
pull together and take stock of what is most important to them. The lake is a safe and enjoyable place to
create lifetime memories and it’s a solid investment.
I hope you are well and safe. It will be interesting to see how much or how
little has changed when I see you here next month.
Michael Elliott has been selling real estate at the Lake of the Ozarks
since 1981. He is one of the most
respected brokers in the area. If you
would like to work with Michael in the sale or purchase of property, or have
interest in a career in real estate, contact him at 573.365.SOLD or cme@yourlake.com or stop by C. Michael Elliott & Associates,
3738 Osage Beach Parkway. View thousands
of lake area listings at www.YourLake.com. You can also view each months’ article, ask
questions and offer your opinion on Michael’s real estate blog, www.AsTheLakeChurns.com
