SVN | SFRhub Advisors Coronavirus Update
At SVN | SFRhub Advisors, the health and safety of our team, their families and our clients remain our top priority. In light of the ongoing developments regarding COVID-19 (Coronavirus), we are diligently working with team members, service providers, and clients to make sure business remains uninterrupted as we shift operations remotely to ensure the safety of our team members, our families, and engage in social distancing as recommended to do our part in reducing the spread of COVID-19.
We will continue to work safely each day to support your needs without interruptions. This transition has been both seamless and efficient.
Yesterday, the CDC issued a statement recommending that in-person events that consist of 50 people or more throughout the United States be canceled or postponed for the next 8 weeks. Today, the coronavirus task force issued stricter guidelines for the next 15 days to help prevent the spread of the virus, including avoiding gatherings of more than 10 people both publicly, such as bars and restaurants, and at home. Homeschooling for children has also been recommended.
Due to this development, we have decided to reschedule our upcoming events, including our annual HUBclub event that was scheduled to take place on May 13, 2020. We are currently working to determine a new date for this event. While it is disappointing to postpone, we feel it is best for the safety of all participants as well as the quality of the event.
SVN has compiled an impact report that you may download here.
The real estate environment is quickly changing as a result of the novel coronavirus. Bisnow.com reports, “As coronavirus outbreaks have emerged in more places, investors seem to be turning to U.S. real estate as a good place to park their money.”
So far, the increase in interest has been strongest in single-family residential rental properties, with investors worldwide flocking to the (SFR) sector.
The article points out real benefits of online data research and SFR investment with successful platforms, such as our friends at RoofStock.com, and of course our platform at SFRhub.com.
The good news for real estate investment is that this is not the 2008 crash. As is being reported, there are many elements that differentiate then when compared to now. A few of the major differences comparing 2008 and now are included below:
- The coronavirus is a medical solution based challenge vs. a complete economic work out; the financial system has NOT failed.
- Institutions and investors are well capitalized and employment is at all time highs.
- Governments are implementing large-scale solutions within days rather than months or years.
- Because of huge stock market gains over several years, many investors have not lost their principal equity for reinvestment.
- The life quality and business shifts are near term impacts rather than ‘no end of term’ in sight.
SVN | SFRhub Advisors will continue to monitor the situation, following the guidance about the Coronavirus (COVID-19) from the U.S. Center for Disease Control (CDC) and the World Health Organization (WHO). We remain as accessible as always during this time and will provide updates as necessary.
We wish you, your co-workers and family good health.
The SVN | SFRhub Advisors Team, Phoenix, Arizona