Our lives are different now, plain and simple. COVID-19 has changed everything. Times are tough. More than 8,000 Central Florida residents have gotten the virus. Some 1,400 people have died.
Thousands have lost their jobs and are struggling just to make ends meet. The theme parks are ghost towns, and no one knows when things might get back to normal. We don’t even know what “normal” will look like after this is all over.
The complete shutdown of the tourism and convention industries here in Central Florida has obliterated the economy. It will take years for our community to recover.
The real estate market has also taken a major hit. Ten of Florida’s 67 counties are among the 50 most vulnerable in the country right now, according to a report from Attom Data Solutions. Unfortunately, Osceola and Lake counties are on that list. These counties have a high percentage of rental property owners. If people can’t pay their rent, owners might not be able to pay their mortgages. The Financial Times reports that rent paid in the first five days of April dipped 12 percent from the same period in March. Governor DeSantis has also suspended evictions and foreclosures until at least May 17.
But amid all of the doom and gloom, people are coming together to help those who need it the most. Our doctors, nurses, first responders, and social service workers are out there on the front lines making a difference. Acts of kindness abound.
It’s become a common refrain, but it’s true: We’re all in this together.
Here at 3% Real Estate and Gemstone Properties, we’re ready to assist you. We also work closely with dozens of contractors and tradesmen. So use us as a resource. We’re here to help you any way we can.