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El Paso Real Estate Thrives Despite COVID-19 Pandemic

By: Tanya Torres

El Paso Real Estate Thrives Despite COVID-19 Pandemic

 

The current COVID-19 pandemic has forced all of civilization as we know it to halt. Although the virus has made us put our normal lives on hold due to the lockdowns that we faced, it has also made us adapt to this new lifestyle which has helped businesses such as real estate in El Paso rather than forcing it to suffer like it has in other areas.

 

“The market is in a good place and while COVID may have impacted other regions, in El Paso we are shifting into a Seller Market and homes are selling quickly and at a premium,” said Brian Burds of Brian Burds Real Estate. 

 

Although the worldwide quarantines may have postponed certain things, it did not stop those who needed to purchase a home to quit their search or those needing to sell their home to remove their listing. On the contrary, the market has switched from an abundance of homes for sale to an increase of those who are in the market to buy rather than sell while interest rates are at their lowest.

 

“We are currently at some of the lowest inventory of homes we have been at since the market boom of 2007. People are very motivated by low interest rates and I think that the home is the one place where people feel safe right now so upgrading that space has become more relevant,” said Burds. 

 

The lack of homes for sale means that the seller does not have an enormous amount of competition out there to lower their chances of selling their home. This means that the buyer has a limited inventory of homes to look at instead of having an overwhelming amount. In addition to focusing on the purchasing or selling needs of their clients, Brian Burds and his team have also been prioritizing ways to ensure the safety of their clients amid the COVID-19 crisis by focusing on technology to help their clients during the home-buying process.

 

“We have adopted many virtual practices such as virtual tours and 3D imaging of our listings to ensure that clients feel safe while conducting showings and during the contract process,” said Burds. “We have also worked hard with title companies to ensure that the closing process is smooth for the clients,” said Burds.

 

Real Estate is notorious for their in-person showings, but as the pandemic began to spread and made its way to the cities like El Paso, it forced places to shut down due to not being essential. However, real estate was deemed essential and as a result virtual tours and 3D imaging has become the norm to use for the buyers to allow them to virtually experience the home without putting themselves and the agent at risk of exposure to the virus. 

“Real Estate is a solid investment for the future and historically will always be a good place to establish net worth. It is also a great avenue to build a pipeline for income and with interest rates as low as they are right now you can buy an upgraded home for the same price you may be paying currently,” said Burds.

 

With interest rates at their lowest, it allows the buyer to get the best deal available to them instead of having to settle for a home they do not fully love just because the price is right for them. Although the pandemic has made a lot of people hesitant about the future, it has at least allowed those who are in the market for a new home to attain one that meets all their needs and desires. 

 

“It needs to be good for you and your family but if you are ready to make the plunge to buy, sell or trade up or down we are here to make sure you get the best deal possible,” said Burds.

 

Tanya Torres is a content writer for Brian Burds at Century 21 who has written several publications as a freelance writer for KISS-FM, Fusion Magazine, El Paso Times and so on.

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Brian Burds

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