Though the process is different, now is a good time to buy and sell.
Though it may come as a surprise, now is a smart time to make a home purchase.
Even though shelter-in-place ordinances have made the home buying process more difficult, we’ve seen an uptick in home showings, and there are three reasons why:
1. People still need to move. Whether it’s due to a birth, divorce, financial hardship, or job transfer, some families need to move as quickly as possible.
2. Innovative technology. Agents across the country have become innovative in how they use technology to consult with buyers, help them view homes, and facilitate meetings with mortgage professionals. All of these things can happen within standard safety guidelines.
Many families have decided not to postpone their home purchasing plans, even in these difficult times.
3. Mortgage rates. Buyers understand that mortgage rates are a key component in calculating their monthly mortgage payment, and current rates are close to all-time lows. By buying now, they can save tens of thousands of dollars over the lifetime of their loan. Due to this, purchasing a home is different now than it was last year.
The bottom line is that many families have decided not to postpone their home purchasing plans, even in these difficult times.
What if you’re thinking of selling your home? There is less competition right now, so don’t wait for other sellers to come back onto the market. While some sellers are taking their homes off the market, your home has a better chance of surging to the top of buyers’ search lists. The number of listings will pick up again soon, so getting ahead of this trend might be in your best interest.
Rest assured that agents like myself know exactly what today’s buyers need, and we can provide them with virtual tours, 3D floor plans, and top-notch listing photos of your home.
So if you’re a buyer, remember that you can still find your dream home. If you’re a seller, you still have a great opportunity to sell for top dollar.
As always, if you have questions about this or any real estate topic, don’t hesitate to reach out to me. I’m happy to help.