Is it a good time to buy or sell your Home?
We've been getting this question a lot. Is right now a good time to buy or sell a home? If you’re wondering how the real estate market is changing in the age of COVID-19 AND if you’re trying to decide whether to buy or sell in the 2020 market, you’ll want to read this. 👀👇
The main points we want everyone to remember from this message are these...
▶️ Real estate transactions WILL definitely continue
▶️ We’re about to have the first-ever Virtual Spring Market. And we’ll probably look back on this as a turning point in how ALL real estate transactions were done.
In an age when people buy everything else online (which we’re all doing right now)... Real estate was bound to move there as well. It has already become very common for people to purchase homes without seeing them in person. 🏡👍
In short, this pandemic is massively accelerating real estate trends that have been in place for years...
💥 People Looking to Buy a Home💥
◽️ You might be surprised to learn that the buying market has remained very strong.
◽️ Physical showings have slowed down quite a bit, but virtual showings have skyrocketed.
◽️ Being quarantined does lead to more home searching from the comfort of your home!
◽️ We saw over 20 homes going under contract this month (April 2020), which is still really good! 🤯👍
💥 Homeowners Looking to Sell💥
This is where we’ve seen the most drastic change. 👀
🔸 If you were already in the process of selling, you most likely went live on the market.
🔸 If you were in the early stages of thinking about selling, you most likely hit the pause button.
🔸 That’s understandable, but we would caution some people on making that decision, and here’s why...
Over the past 10 years, the #1 question we've gotten from homeowners is “when should I sell my home?” 🤔
Our answer is the same today as it always has been:
👌 You should sell when there’s less inventory on the market. 👌
It’s simple supply/demand economics...
This pandemic is going to cause a massive shortage of housing inventory. 🤯
It's still the spring market for buyers, but homeowners looking to sell are not participating at the same level.
We’re reasonably confident that once we’re through the worst of the pandemic, most of the homeowners who were on pause are going to sell all at the same time, creating a huge flood of inventory and putting downward pressure on prices due to all the competition...
What Tahoe Lifestyle Group Is Doing... 👇
The good news is that we have always been building our business for this kind of market.
☑️ We always had the tools in place to work remotely, which we've been doing even before the Stay at Home order.
☑️ We’re closely following every CDC guideline.
☑️ We’ve stopped conducting open houses, etc. But we’re also doing a LOT more for buyers...
...we have technology that will allow you to view any home virtually from the comfort of your home. There’s no reason not to take advantage of that. 🙌
For sellers, our marketing machine—especially on digital and social media— is now more valuable to you than ever before. 👏
So here’s what we’re putting at your fingertips:
- Professional Photography
- 3D Virtual Tour
- Property video including drone imagery
- Virtual Staging (for vacant homes)
- Virtual Open Houses
- Top-level Social Media Campaigns
Click HERE for more details about our seller services
Last but not least, there is a lot of uncertainty, fear, and confusion happening in the world right now and I want you to know that I’m here to be a resource for you.
A few things that we can help with:
1) Plan your real estate goals for 2020 (and beyond)
2) Introduce you to a reputable service provider in my network
3) Connect you with a lender to reduce your mortgage payments, or to get you pre-qualified for a future purchase
4) Call just to chat. I know everyone could all use a friendly catch up.
To finish it up, I will leave you with a link to some helpful information. Recent headlines about El Dorado county’s stay at home order were confusing. They are not being lifted, just allowed to expire with the intention that the statewide order will continue. It was initially implemented before there was a statewide order. This information from the CA State provides the road map to “reopening.” We found it very informative. CLICK HERE.
Take care and stay safe!