Real Estate industry staying strong through COVID-19

Updated: Apr. 30, 2020 at 5:41 PM CDT
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WICHITA FALLS, Texas (TNN) - While some industries have taken hits from COVID-19 one that is doing well in the Wichita Falls area is the Real Estate industry.

Masks and gloves are worn during all home showings but most try to limit in-person meetups.

“We’re still working virtually as much as possible is what I’m seeing and hearing throughout the Real Estate community,” president of the Wichita Falls Association of Realtors LeeAnn Burnett said.

It’s technology that agents have been using for years and despite many facing unemployment and financial hardships because of COVID-19 home buying has not dropped.

“It has had an effect on us, but we’re still making loans and they’re still buying houses,” Kathy Gregory, vice president at Jacksboro National Bank, said.

Lenders at Prime West Mortgage and lenders at Jacksboro National Bank both agree now is the time to buy.

“This is an incredible time to buy, and sellers are feeling confident that we are doing our part to keep them safe while we’re listing and showing their homes,” Burnett said.

In early March interest rates were as low as two and a half percent leading many to refinance, but now rates have begun to move closer to three percent.

“We had people who wanted to apply who really couldn’t anymore because it wouldn’t be feasible for them to refinance if they couldn’t get the low rate,” Gregory said.

After surviving through other difficulties in history, including the drought, area realtors have become prepared to handle whatever is thrown at them.

“For Texas realtors, this is not something new to us, we have gone through 100 years of changes and we’re still here,” Burnett said.

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