A report released last week by Realtor.com Chief Economist, Danielle Hale, indicated that a recession could make some consumers actually more likely to purchase a home.
Recently, Realtor.com performed a survey polling site visitors if an economic recession would impact their decision to buy home. Of those surveyed, 43% stated that they would be more likely or somewhat more likely to buy a home it there was a recession.
Also encouraging was that the majority of respondents did not believe that an economic recession would have a significant impact on home prices.
Although it is promising to know that the majority of home shoppers do not plan on being derailed by a recession, the current restrictions on travel will cause an unavoidable disruption to the Roatan real estate market for most likely the next month or so.
However, in the meantime, at Roatan Executive Realty, it is business as usual but under the new protocols in place during these strange times.
Properties can be viewed virtually, video calls are being made to connect with buyers and sellers and all documents can be signed electronically. While we may be working from home instead of our office, our commitment and passion for real estate remain the same.
We know that many of our clients and friends hold Roatan close to their hearts and are concerned about the current economic hardships faced by so many islanders out of work. Part of the beauty of Roatan is its ability to pull together as a community in times of crises and this is no exception. There are a number of organizations that have stepped up to assist with the food crisis already gripping the island. Dino Silvestri, Governor of the Bay Islands, has created a food and medical assistance fund for the people of the Bay Islands of Honduras. Donations can be made at the Make it Count Foundation.
Also encouraging is the news from the New York Post that despite current world events, cruise bookings are on the rise for 2021. Fantastic news for Roatan as we have two cruise ship ports and currently do not have a confirmed case of COVID-19, which will help instill confidence in visitors to our island. Read the full article here.
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