Updated April 9th, 2020
At Mosaic Community Lifestyle Realty, we are committed to helping our clients conduct real estate transactions safely. This is especially true as we monitor the ongoing COVID-19 developments. Our COVID-19 policies are structured to help provide safety while also facilitating the real estate transaction process. Our goal is to promote a stable marketplace and a safe and smooth experience.
Programs to Help Struggling Homeowners
Mortgage relief options are available to homeowners affected by coronavirus safety measures. See the article from our weekly blog below for more information. Mosaic Realty will keep you updated with the latest programs to help you manage your housing expenses.
Implementing recommendations of the Centers for Disease Control and Prevention and the Buncombe County Health Department, Mosaic has asked its agents to take added precautions when interacting within the company and with clients to keep the community healthy. Mosaic’s offices will be sanitized on a regular basis. Our office is not currently open for in- person meetings, and our agents are limiting visits to the office on an as-needed basis. Agents are required to stay at home if they’re feeling ill. Company-wide meetings will be held virtually. Taking these steps will ensure a healthier staff and minimal disruptions so we can continue to focus on helping you find success in your real estate journey.
Agent interaction with clients will also adapt to the circumstances. As of the week of April 6th, under the Stay Home, Stay Safe ordinance put out by Buncombe County, Mosaic has adapted the way we carry out real estate transactions. For details on our current policies, read here how Mosaic is adjusting to meet real estate needs right now.
Secure in selling or buying
If you’re planning to sell your property or purchase a new property, Mosaic will utilize virtual showings to the greatest extent possible. When in-person showings do occur, we require all buyer and seller clients to sign the COVID Compliant Commitment and Disclosure so that all parties involved can make an informed decision about how to handle showings. We will not be conducting public open houses or broker open houses at this time, but in lieu of that we will be providing a video walkthrough for potential buyers. If you are selling, once your house is under contract and inspectors and buyers are allowed in, Mosaic will make every effort to curb viral exposure in your house. Additionally, clients will be able to electronically sign necessary documents whenever possible. For more details on our current policies regarding buying and selling, view our blog post about how Mosaic Safely Adjusts to Meet Real Estate Needs During the Stay Safe, Stay Home mandate.
Impact of COVID-19 on real estate in Asheville
As of April 6th 2020, real estate in the Asheville area has been impacted from COVID-19, but properties are still moving. The week of March 30-April 5th, the Asheville metro area had 129 new listings, 95 properties went under contract and 161 closings took place. Low interest rates are bringing buyers to the market, but some sellers are choosing to delay listing their homes. Due to that, we have a lack of inventory on the market, with two months’ supply in Asheville and less than three months’ worth in Buncombe County. A balanced market has six months of inventory. Less than six months of inventory is considered a seller’s market. Buyers are still looking, buyer leads are coming into our office daily, and bidding wars are happening due to the lack of supply.
Coordinating a response within the Asheville/Buncombe real estate industry
Mosaic Realty believes that it is time to set competition aside and work together within the industry to establish best-practices that all agents in Western North Carolina follow. As such, we are working with the Land of Sky Association of Realtors, other real estate companies, attorneys’ offices and service providers to establish widely adopted policies. Our policies are subject to change as industry standards become adopted.
It’s important during this time to stay well-informed and adequately prepared by accessing accurate COVID-19 information and updates. The CDC has set up a site specific to COVID-19 (https://www.cdc.gov/coronavirus/2019-ncov/), offering up-to-date information at the world and national levels; Buncombe County has made information on the local level available at buncombecounty.org/bcready.
With an eye on the ever-evolving COVID-19 situation, Mosaic will continue to make the safety of our clients and community a top priority. For further information please contact Mike Figura at Mike@MyMosaicRealty.com or call him anytime at (828) 337-8190.