Beginning of the End...or the End of the Beginning
We are now entering the fourth month of life under COVID-19. Many jurisdictions in the Washington, Metropolitan Area have entered Phase 2 of Coronavirus restrictions. Many businesses that have been shuttered since March are reopening and operating at limited capacity to help stem the spread of the virus. People are beginning to venture outdoors, either for enjoyment or to exercise their right to free expression. COVID-19 cases are spiking in some areas of the country, some claiming that this is due to more testing, while others attribute it to relaxation of restrictions. Regardless, we appear as a nation to be moving inexorably towards normalization, even though until a vaccine is produced, COVID-19 remains with us.
New World Title & Escrow has, and will continue adapting to the circumstances of operating under COVID-19. All of our settlement locations are now open, and attendance at closings limitations have been removed. Strict mask or other face covering requirements have been instituted per government mandates. At the same time, social distancing and disinfecting practices continue. Likewise, we still provide in home, curbside and remote online closings to those who wish it. COVID-19 has not halted the real estate sales and mortgage lending industries. Historically-low mortgage interest rates are one positive product of this pandemic. Homeowners are able to refinance their mortgages at rates never seen before, saving them hundreds of dollars a month. Home-buyers are also benefiting from low interest rates as they can afford more than before. The high volume of transactions is all the more challenging under lock-downs and stay at home orders. Through perseverance and ingenuity, they comprising the real estate industry: realtors, mortgage lenders and title companies, have worked from Day 1 of the pandemic to service the needs of homeowners and home-buyers, and will continue to do so until we can all finally put an end to COVID-19.