The snow's effect on real estate
Winter's not a hopping time for the housing market under normal circumstances. So you can imagine what more than 40 inches of snow in February does to buying and selling.
Actually, you don't have to imagine. Here's what real estate agent Jamie Mason shared last Thursday when I asked for stories about the snowstorms' economic impact:
"I have a closing scheduled for next week that is still scheduled to take place, but the seller is having to rent his house back from the buyer because his movers can't get their truck down his block to pack up his belongings," wrote Mason, with Long & Foster's Fells Point office.
"Because many secondary roads in the city still haven't been plowed, buyers and their agents can't get in to tour houses. I have an open house for one listing that we have now rescheduled twice, and I have two more upcoming listings that we've postponed putting on the market because of the inability for buyers to get to them. I had noticed buyer activity picking up in January, but now it's all but nonexistant."
Of course, that was last week. It's a whole new week now. With whole new snow predicted. (At least the National Weather Service downgraded its forecast to four inches or less.)
You can read the full economic-impact story here.