COVID-19: Where Were You When Quarantine Hit

Real Estate

By Brandon Scott

 

Whether you are joining me online at my YouTube Channel at RealTeaDMV or reading about it, here, on my blog you’re in for a treat. COVID-19…that girl no one invited to the party. There’s a new normal that is developing for all of us because of this pandemic. COVID-19 has brought with it new rules of engagement from, virtual brunch and happy hours to no traffic on DC streets and reinforced others like, hand-washing. And it doesn’t matter if you’re ready or not, we’re here. So, despite it all the world must still find a way to keep going.

 Covid-19:  It has disrupted the global economy and the entire economic market. And the question you have to ask yourself is what impact will this pandemic have on renters and homeowners. Think back to like 3 weeks ago, brunching, dancing too close, shaking hands. Now, look at us, making Tiktok videos with our plants. Let me ask you this, where were you when you heard that there was a quarantine and that a pandemic is spreading? What about when we had to shelter in place? Yesterday, Maryland placed residents on a curfew beginning at 8pm. Governor Hogan laid out three consequences for violating the curfew 1) a misdemeanor charge, 2) 5,000 fine or 3) up to 1 year in jail. It’s real out here. For me, this moment will be etched into my brain. We are living in history and these will be the moments, and feelings, none of us will soon forget. 

 To be honest, my initial sentiments were that things were being ‘blown out of proportion’. My nerd brain immediately said, ‘wash your hands, it’s probably just a type of influenza, it’s like the Spanish flu but this time we have Twitter.’ I think a lot of people were no different.

 Now that we’re no longer as distracted, we’re at the threshold of April 1st.  Realize it or not rent is due. For as much as we've been distracted by the global economy and local events, most landlords are going to want their money. But, there's real financial hardships and hopefully landlords will [may] be sympathetic. On the other-hand they’ll want and need their money to cover the expenses of the building and other capital costs associated with the property. It’s a tough place, position to be in. The Government has taken some modest means to limit evictions filings, but that deferral is not indefinite. Many folks have been laid off without any future prospects for employment. Across the fabric of America, the landscape looks different, but the underlying denominator is the same, people are hurting.  

 I have more thought so there is definitely more to come on this topic, and more, in the coming days.

 

 

 

Brandon Scott is a licensed real estate agent in Washington, DC, Maryland and Virginia. His license hangs with Coldwell Banker Dupont-Logan, DC. He’s been involved in the mortgage finance industry for the last 16 years in various fields. You can reach him by email at Brandon@bmscott.com. Subscribe to his YouTube Channel at RealTeaDMV.