Sellers in our market have one simple question: What’s next? Here’s how to find the right path forward in this uncertain time.
It’s only natural that I’m fielding more questions about the general state of the market with each passing day. So much has happened in such a short time, and guidelines for lending are changing almost daily. Interest rates have at least steadied and now hover around the lower 3% range.
Many potential sellers are wondering, “Is it time for me to sell or not?” We’re here to help you with whatever you need, but whether or not you should sell depends on your situation and comfort level. We’ve advised some of our older clients who are most at risk in this pandemic to stay off of the market and focus on keeping themselves safe—if there’s even the tiniest chance of exposure to COVID-19, it’s too great of a risk for them to take.
On the other hand, we have clients in the military who are in the middle of relocating to our area; they need our help to buy a new home because they’re having to rent back the one they’ve already sold.
Everything is in flux right now, and one person’s situation looks vastly different than the next. If you’re just looking for accurate, up-to-date information on what’s going on in the market, please contact your agent or call us here at the office. We’d be happy to arrange a one-on-one Zoom call and explain what we’re seeing in your area and what you can expect as a seller or a buyer.
Overall, there’s a shortage of inventory, and multiple-offer scenarios are still common. In some of the low inventory areas across our market, our agents are seeing some properties sell within a matter of hours. Others are selling in just a few days, while homes in higher price points are lingering around much longer.
Reach out to us if you’d like to learn more about what’s happening at a specific price point. For those committed to going on the market, now is a great time to do so; inventory is low, so that means seller competition will be low too. We’re doing everything we can to keep people safe, and that includes using virtual presentations on all of our listings and offering 3D Matterport technology so buyers can be certain of their interest in a home before an in-person viewing is scheduled.
Stay healthy and safe, and remember to call us with any questions. We look forward to hearing from you!