Usually, Spring is prime home-buying and selling season in almost every market. However, this Spring, it’s a whole different story. With the coronavirus pandemic intensifying and the economy on shaky ground, you might be asking yourself if this is a good time to buy or sell a home, or would it be wiser to wait it out?
Regardless of if you are looking to buy or sell a house, the most important thing to do is to avoid panicking. To help with that, the professionals at Scott Jones Real Estate are here to share some insight into this unprecedented real estate season. In March of 2020, real estate was declared an essential service, which means that we have been back at work for you for some time now. However, safety precautions remain in place and could change at any time, so be sure to check with us before making the decision on buying or selling a home.
First, let’s get this out of the way: this year’s springtime selling season will be unprecedented. In fact, according to the latest National Association of Realtors Economic Pulse Flash Survey conducted mid-March, which, to many, already feels like ages ago, revealed that 48% of real estate agents had noted a dip in buyer interest compared with a year ago.
However, this doesn’t have to be a bad sign or make it impossible to buy or sell a home. Depending on your specific area and circumstances, Scott Jones Real Estate can help you assess your situation, address your concerns, and formulate a plan to buy or sell a home safely.
Selling a home during the pandemic
Thanks to pent-up demand and low-interest rates, buyers are still looking. However, many buyers may be more inclined to do extensive research online on a house before deciding to visit, instead of seeking out open houses or coming up with a longer list of places to see in person before deciding to put down an offer. For that reason, you should invest the time and the effort to make sure your house is listed online with the best presentation possible. When you go with Scott Jones Real Estate, we do the work for you and make sure that your home is listed clearly with lots of high-quality photos that will entice buyers to put your home on their to-visit list. We can also put together virtual tours that show off the best qualities of your home, and that will attract serious buyers.
Regarding showings, in-person showings are still happening in most areas, although many are restricted as far as how many potential buyers at a time are allowed in the house. Per the CDC guidelines, showings may be limited to 10 – 14 people at a time and should provide hand sanitizer or even booties to cover visitors’ shoes. Your agent at Scott Jones Real Estate will take all necessary precautions to protect your home and everyone who enters it during the showings if you decide to go that route.
Other options on showing your home can also be a virtual tour, which your agent can create. You can also film a virtual tour yourself with a smartphone or tablet, and some affordable applications or other hardware. Stay tuned to our blog for more information on how to create a great virtual tour that will highlight the most outstanding qualities of your home and capture the attention of serious buyers.
Buying a home during the pandemic
Buying a home right now might feel like a risky venture. After all, no one knows when things will get better, economically or otherwise, and no one can say what things will be like once we are on the road to recovery. But, if you have taken the time and effort to get into great financial shape so that you can buy a home, this might be an excellent time to wade into the market.
One of the many factors working in your favor as a buyer is the fact that the real estate industry has made great strides over the past few years in online transactions. Meaning, the industry is well-positioned for social distancing while continuing to provide complete service. You can find, inspect, and purchase a home without ever coming face to face and taking a risk with your health. You will be able to discern serious agencies and listings by their online presence.
Of course, pixels are no substitute for an in-person inspection. You can still dedicate more time to studying the inspection report of the professionals who will put it together for you. Also, you can rely on your agent for guidance. In fact, smart buyers will use their agents to their advantage when buying a home during these unprecedented times. Choose an agent who listens, understands your needs, and keeps in touch with you.
If you are optimistic, patient, and have the means to do so, this can be a great time to buy. Even if you are not totally comfortable using technology to find and purchase a home, our agents have the experience and know how to guide you in finding and buying the home of your dreams.
Regardless of if you are buying or selling a home right now, be patient. The reasons you might want or need to buy or sell a home right now can be extremely personal, and you can only gauge if this moment is right for you and your family. At Scott Jones Real Estate, we acknowledge that these are tumultuous times, but we believe that the trying times in life can bring about positive changes, including buying or selling your home.
In times like these, the right agent will be worth his or her weight in gold. At Scott Jones Real Estate, our professionals offer years of experience weathering numerous ups and downs. We are proud to continue the tradition of helping our community see these times through.