Miami Italy International Brokers Realty Launches Tactics to Recession-Proof the Real Estate Market in Miami FL in the Wake of COVID-19

Industry: Real Estate

Miami, FL (PRUnderground) April 21st, 2020

With the COVID-19 pandemic, everyone has been hit hard. Now with 22 million unemployment forms filed, millions of people are without jobs, and the Real Estate market is deflating. Real Estate professionals must know how to individualize by area to have the right product and right price so buyers can invest. Miami Italy International Brokers Realty has caught the attention of buyers and sellers because with COVID-19, and the stay-at-home order, the Investor/Broker Jacopo Iasiello has been able to close four properties in the past two weeks.  With two about to close in the next week, people have been asking how Jacopo Iasiello is doing it.  He brings in his investor experiences and techniques to the final consumer by doing showings without being present with advanced technology.  It allows agents to continue working and engaging with clients without being physically in the same room.  It makes the agent and the client feel safe.

Iasiello said, “Virtual home staging is another big hit. Interior videos of the property room by room, creating cold stories for each property, keeping in contact with the team, agents, title companies, and mortgage brokers, all these things keep relationships active.  With all this said, everyone must prepare for what the new normal is going to be.  The market will eventually go back to what it was, but it will have a new and future norm for how to interact one-on-one with clients.”

Iasiello goes on to state that right now, if people need to sell/buy a house or make a Real Estate investment, it is necessary to trust new and different methods of approach.  It’s essential to have the help of a professional that knows not only the market but knows how to invest in it. In the regular Real Estate market, a lot of agents can advise on how to buy a property, but a lot of them do not know how to individualize a correct investment. To make matters worse, with COVID-19, it has brought a hold on the economic market. The buyer’s Real Estate market has been reduced by 20% since the previous month before the virus arrived in the states. Why this reduction?

The MBA (Mortgage Banker Association) has released with correct numbers on why there is a reduction.  With the 20% reduction, these are the type of borrowers that began having problems:

  • Borrowers with lower credit scores
  • Mortgages with higher loan-to-value (LTV) Ratios
  • Jumbo mortgages loans with balances over $510k in most markets and the most expensive markets with balances over $765k

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About Jacopo Iasiello

Jacopo Iasiello is a Real Estate broker and investor in Miami, Florida.

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