Image: Andy Dean - Adobestock
Housing inventory is very low, which has been driving up property prices, but buyer interest was up prior to quarantine. Now, social distancing rules are severely hampering real estate transactions. If you're a buyer looking for available properties, or if your home is currently listed, here's some advice:
Get Potential Properties Lined Up
Low mortgage rates are an incentive to buy property right now. Unfortunately, very few homes are being listed, so inventory is limited. If you're a serious buyer, which means you're already preapproved for a mortgage, contact your real estate agent and let them know what you're looking for. There may be a listed property that fits your criteria.
The Show Goes On, but Safety First
The COVID-19 pandemic has made in-person showings difficult or even impossible in many cases. First, do a drive-by viewing of promising properties to check out the exterior and location. If you're interested in seeing more but the listing doesn't include a virtual tour, contact your real estate agent about arranging an online showing or a video tour. Also, sellers might be willing to accept offers that are contingent on visual inspections after the stay-at-home orders are lifted.
Pretty as a Picture
If people can find their spouse online, they can find their home online. Buying houses without an in-person introduction is more common for investors, but you get the idea. Great photos and virtual tours do sell a property. Online tools to show your house are more important than ever, so sellers should get savvy with video conferencing and social media apps.
During a public health crisis, local mandates can change at any time. Contact me for a creative, safe solution to buy or sell property right now.
