While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible.
Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following the current COVID-19 guidelines set forth by the National Association of Realtors and the Centers for Disease Control and Prevention.
According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest.
So while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.
Here’s the other thing – people are spending a lot of time on the Internet right now, given the stay-at-home orders implemented across the country.
Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers too. Homes are being sold in many markets.
The same survey indicates that 56% of NAR members said sellers are removing their homes from the market right now. This can definitely work in your favor.
If other sellers are removing their listings, your home has a better chance of rising to the top of a buyer’s search list and being seen. Keep in mind, listings will pick up again soon, as 57% of the respondents note that sellers are only planning to delay the process by a couple of months.
If you need to sell right now, don’t wait for the competition to get back into the market again. Getting ahead of that wave now might be your biggest opportunity.
Homes are still being bought and sold in the midst of this pandemic. If you need to sell your house or buy and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family. Till we meet, here are a bunch of great real estate articles from around the web I’ve enjoyed recently!
Social Distancing Has Become Second Nature for Remote-Home Owners. “It’s The Biggest Luxury.” The coronavirus pandemic has spiked buyer interest in off-the-grid properties like these.
March home sales drop 8.5% as sellers take properties off the market – and the coming months look worse Sales of existing homes fell a wider-than-expected 8.5% in March compared with February to an annualized pace of 5.27 million units, according to the National Association of Realtors’ seasonally adjusted index.
Buyer’s Alert: Fewer home sales over the coming months will likely mean slower price growth, and in some of the harder-hit markets, where hospitality and leisure drive the local economies, prices could fall.
Your Guide to Making a Contingent Offer on a House Whether you’re concerned about the COVID-19 pandemic or what an inspection will reveal, here’s how a contingency clause can protect you in a real estate deal.
How to Tactfully Back Out of a Real Estate Contract Here are your best options for backing out of buying or selling a home during the coronavirus pandemic.
Forbearance: Is It Just a Slow Slide Into Foreclosure? If you’re experiencing financial hardship related to the coronavirus crisis, the idea of forbearance probably sounds pretty good. After all—who wouldn’t want to put off paying their mortgage when money is tight, especially if you’ve just lost your job or are worried you might be about to?!
How the Coronavirus Is Reshaping Home Design: 10 Crucial Features a House Should Have Today Life as we know it has changed dramatically in the coronavirus era, affecting work, school, travel, and more. And it’s shed light on the way we live at home, underscoring the fact that there’s nothing more important than safe shelter for our family.
Real Estate Recession: Who Gets Impacted and How Recessions are a natural part of our real estate cycle, but what happens in result will differ.
Five Opportunities For Multifamily Real Estate In A Post-Pandemic World The current pandemic and global response is a once-in-a-lifetime event that has affected all of our lives in significant ways. In addition to rapidly addressing the short-term implications, real estate leaders must begin to think strategically about the long-term implications of the event. As MIT Technology Review’s Gideon Lichfield wrote, “We’re not going back to normal.”
“We had to turn investors away:” Distressed RE funds raising cash at breakneck pace Investors looking to capitalize on the opportunities created by a pandemic-frozen economy are pouring billions of dollars into funds that plan to scoop up debt that lenders are now trying to quickly clear from their books, according to the Wall Street Journal.
Your Turn! Come across anything yourself you’ve really liked?! ❤️