As expected we saw the market trends since our island went into lockdown on March 15th carry forward throughout the month of May.  COVID-19 and related social distancing precautions, restricted movement, and closed borders continued to impact the Roatan real estate market.

However, given the momentum and elasticity of the Roatan Real Estate market going into this pandemic, we are confident that it will recover quickly. We feel this will occur once we are assured it is safe to reduce the social distancing measures and when international flights return to our island.

The light is already emerging at the end of the pandemic tunnel. New listings have recently been added to the market, there have been some sales completed via electronic signings in addition to other listings going under contract. Roatan still isn’t overdeveloped and remains the ‘hidden’ gem of the Caribbean. There is plenty of affordable land for sale, making our island very desirable to foreign investors.

If you’re eager to start seeing properties, we will be able to welcome you soon. In the meantime, send us a message and let us know what features you are looking for and we will send you a hand-picked list of suitable listings. 

While the coronavirus has added a few additional complications to selling a home, it certainly isn’t impossible, thanks in part to virtual viewings and electronic signings. And, if you’re planning on selling your home soon, there may just be a silver lining to the current lockdowns.

The disruption has caused some home buyer’s to pause their plans, but not all homeowners have that luxury. For people that recently purchased a home pre-lockdown and have closing contingencies dependent on their current home selling, as well as divorcing couples and even deceased estates – there are a number of reasons why many people are actively looking to buy or sell a home.

Anyone that has previously listed their home for sale, understands the scramble to prepare their home for the market. A silver lining of the current pandemic is that many of us now have an abundance of time on our hands.

Here are some ways to take advantage of the lockdown to get prepared and prioritize the presentation of your home. 

Refresh landscaping – First impressions are critical, so refreshing your landscaping should be a priority. Prune any bushes, trim trees, weed your garden and plant some flowers for a burst of color to help make your home inviting.

Do repairs – In a buyer’s market, it’s vital that your home is in the best possible condition. If you have a leaky roof, cracked window, broken step or anything else in need of repair, do it now.

Exterior focus – If the outside of your home looks sloppy, buyers will assume that you’ve neglected the inside as well. Pressure wash your exterior walls, clean out the gutters and wash your windows. A simple way to make a great impression in the Roatan realty world? To make your home more welcoming, give your front door a new coat of paint and consider replacing your worn welcome mat, mailbox or faded house numbers.

Declutter – Buyers want to visualize their belongings in your home. Declutter each room by removing unnecessary knick-knacks, extra furniture or other items that may overwhelm a room.

Organize storage – You want your closets  and drawers to create a more spacious look. Messy closets are misleading and make your storage space appear small.

Neighborhood Spotlight:

Camp Bay 

Port Royal 

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Finding Homes for Rent in Roatan. Honduras

 

 

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.

Discover the Neighborhoods of Roatan:

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