Buying and selling a home can be intimidating for most people. Add a world-wide pandemic to the mix, and we’re left with nervous and concerned buyers and sellers.
According to Realtor.com’s April 2020 Monthly Housing Market Trends Report, national inventory has declined by 15.3% year-over-year as sellers are waiting to list or pulling their homes off the market. However, home prices and values are holding steady as some consumers cannot wait to buy or sell.
Are you wondering whether now is the time to pursue real estate opportunities? Our LemonBrew Partner Agents have weighed in with their expert advice for home buyers and sellers to follow during the COVID-19 pandemic.
Albert Alvarez of The Ally Group of eXp Realty, LLC | NC & SC
“First, don’t worry about the impact of the pandemic on home values. No expert in our market expects prices to shift since the fundamentals of home equity and ownership are very different from the last recession. Housing was surging before the pandemic and will do so again once we’re clear of it. Second, be sure you work with someone who requires strict adherence to safety protocols to keep you, your loved ones, and any homes you view or show safe. Third, if you’re listing a home, be sure your agent uses virtual and streaming technology to market it. Finally, depending on your price point, you might see multiple offers now where you wouldn’t have seen a year ago. With some sellers pulling off the market, supply has gotten lower. But with such low-interest rates, loan applications and demand are still high. Let’s be ready for this!”
Ketan Kenia of Keller Williams Realty | NJ
“Safety first!!! Health first!!! Keeping that in mind during this pandemic, I sold 2 homes in the past week while observing safe distance, utilization of PPE, and following guidelines provided by CDC. I am here for you anytime you are ready. If you are not comfortable now, I understand completely. Let’s meet and discuss when you feel safe.”
Karen Rodgers of eXp Realty, LLC | PA
“Seller’s should know that you can sell your home during the pandemic. Presently, however in PA there will be no physical showings or open houses. Rather, potential buyers will participate in Virtual showings and Virtual open housings as well. Thus, now more than ever sellers will want to ensure their home is camera-ready. Ideally, the home should be decluttered, there should be no personal pictures displayed and it should be sparkling clean. Also, they should jot down why they picked the house when they bought it and what they enjoyed about living in the neighborhood over the years. This key narrative will help me as their agent to market their house better.
Conversely, if someone is interested in buying right now my first piece of advice is to start working with a mortgage lender. In order to find a home that works for the buyer they need to know what they can afford. Once they have the pre-approval letter we both will know what price range to stay within for their new home. I also suggest they make a list of what they are looking for in their new home. Besides the obvious location and number of bedrooms they should think about what features they truly want their new home to have such as a yard, front porch, finished basement, no steps, etc. Everyone’s list will be different however once the list is done I suggest the buyer rank order them. This list will further help me gather a list of suitable homes that are a good fit for the buyer. If the buyer is looking now he/she should prepare for fewer homes on the market, more competition when making an offer, and a longer process from start to finish due to state limitations on face to face interactions. In other words, patience is key.”
Monique Bryher of Pinnacle Estate Properties, Inc | CA
“My advice to home sellers and home buyers is the same, regardless of the external circumstances, such as the economy or pandemic. If you’re purchasing a home, get pre-approved, then take your time to find a home that your family will love and have it checked thoroughly. For home sellers, price your home carefully so that you’re likely to get multiple offers. Work on curbside appeal and repairing all issues.”
Justin Adams of eXp Realty, LLC | FL
“It is worth speaking to an expert in the Real Estate field that can guide you with current data and facts. Certain information can be misleading and it is now more important than ever, to find an honest, transparent, and knowledgeable Realtor to answer your questions through proper listening.”
Whether you’re ready to make a move or not quite yet, speaking with a trusted real estate advisor to pursue your homeownership goals is important for a safe, successful transaction. Our LemonBrew Partner Agents are working at trusted brokerages like Keller Williams, eXp Realty, and many more all across the nation. Head to lemonbrew.com to get matched with your perfect, local real estate agent and stay safe!