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Updated over 5 years ago on . Most recent reply

User Stats

135
Posts
31
Votes
Mark J.
  • Jersey City, NJ
31
Votes |
135
Posts

Is anyone else seeing the market slowing to a standstill?

Mark J.
  • Jersey City, NJ
Posted

Apologies if this discussion already exists, but just wanted to see if others are seeing their markets coming to a standstill as far as listings, and  also what others are doing to find deals.  I'm in the Northeast, investing in NJ and PA.  We've been hit really hard with Covid-19, so it's understandably slow, but curious what others are doing/seeing in the market right now.

I'm only seeing maybe 1 new listing every few days where normally there are at least 3 or 4, at a minimum. A lot of days I don't receive listing updates where I used to get them everyday. Properties that I have inquired about aren't open for touring until a later date.  

I'm also stuck in the middle of getting one of my units rent ready.  Contractors aren't working right now and personally I'm trying to limit my trips to Home Depot and public stores/places for supplies, so it's slow going.  Even if it was ready I'm not sure I'd be showing it due to virus concerns, what's going on in the job market and the rent freeze/moratorium government guidance here.

It seems like deals are still happening from what I'm reading on forums and hearing from some agents, just curious how others are navigating the current market with these constraints.

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