Coronavirus Real Estate Market Update May 7
Hi everyone, and if you haven't figured it out by now, it's Brad Rozansky. You know, we're now in week seven of the quarantine and you know how time flies when we're having fun. With our shelter in place orders still in force, we've been thinking about what our world will be like when the pandemic is behind us. Here are last week's potential trends that may arise after this thing is all over.
- Resort style homes
- Beach home in MD or DE
- Home office
- Goodbye sharing economy
- Multi-generational homes
And now I've added a few more.
Prediction number one: Now that we're almost two months into this crisis, I noticed that lots of people are taking better care of themselves with regular exercise. With gyms closed, lots of people are taking advantage of home fitness equipment sales, but you know, go on line and try to find a set of barbells. I know that most people now are going to want a dedicated exercise space in their new home.
Prediction number two: Mudrooms or at least a variation of them. Almost all new homes have mud rooms, but there's no reason residences of any age can't have a dedicated place to kick off your shoes, hang your coats, and bring in the mail and safely disinfect them. Of course, if you could even find Clorox wipes.
Prediction number three: A home theater/media room. While lots of high end homes built 20 years ago, have these spaces, we actually have seen a total decline in home theaters in recent years. You know it's hard to say when the public will feel safe going back to the movies, and my guess is that the dedicated moving media room will be back on the list of rooms homeowners use again.
Prediction number four: How about space to grow your own vegetables? Much like the victory gardens of World War II, my guess is that more and more people will embrace the idea of growing their own herbs and vegetables. I know my friends like growing their own herbs. Whether you do so as a teaching experience with kids at home, or as an empty nester, there's something very satisfying about making healthy meals with ingredients you've grown in your own backyard. You know, who knows with the predicted meat shortage, maybe you and a neighbor will want to invest in a cow together.
Prediction number five: Lastly, how about a home bar set up? It seems virtual happy hours have become very popular right now. Whether you have an elaborate bar with refrigeration or a simple bar cart in the dining room. One way that many people are having fun in these unsettling times is creating new fun cocktails. You know, are you a cocktail connoisseur? Remember this guy? (Sam from Cheers) Well, how about this guy? (Norm from Cheers) If you have a drink recipe you'd like to share with us, please send it to Brad@Rozansky.com. You know, these are just a few random thoughts. It's going to be interesting to look back a year from now to see how many of my predictions have become true. In the meantime, if you have any real estate questions or would like a great bar recipe, please feel free to reach out to me at any time. Stay safe, and if you want to call, call me at (301) 656-7700 see you next week.
As a service to our clients, we're going to give you weekly real estate updates. If you have any specific topics you'd like to have addressed, please call us at 301-656-7700 or email us at Brad@Rozansky.com and we'll be happy to answer all your questions. In the meantime, please stay healthy.