Island Estates International
Kimberly Kagan, President

Buying During Covid-19

Information for
As we all know, the world pretty much took the longest Rip Van Winkle "sleep" from mid-March until June.  At least in Ecuador, that was the case.  On March 16, 2020, the government stopped all commercial flights from going in and out of Ecuador...except for Humanitarian flights and those were few and far between and costly.  All businesses, with the exceptions of grocery stores, pharmacy's and doctor's offices were closed.  Restaurants slowly were allowed to deliver food inside dining.  For those of us in Real Estate, we could not show condo buildings to tenants or buyers.  We were not allowed in.  Showings became a thing of the past...until June 1, 2020 when the country once again allowed businesses to open with masks and social distancing practices.  During the two and a half months of "lockdown", we had a 2:00p.m. curfew each and every day.  They discouraged anyone from going outside of their home except to shop, see a doctor or go to a pharmacy.  They stopped us if we were out walking.  All of this was in an effort to keep the people safe.  For me...after 36 years in Real Estate...this was unbelievable.  Because we have so many clients who rent and properties that we manage, I remained busy during the lockdown...but what a different life.  I was never bored...I actually worried that would be the case.  When we opened the office on June 1st, I can honestly say I thought 2020 may be a wash for the year.  However...surprise, surprise...we had nine buyer offers presented in June...five accepted contracts...all cash offers!  Those other four offers were low-ball offers hoping to score a steal.  July has also been busy...not nine offers but we have had three offers so far this month. IS the time to buy!!
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Kimberly Kagan
Island Estates International
Ph: (312) 985-7703
Salinas Ecuador, 098.621.2688