With the global pandemic so many people are concerned about the economy and for the real estate market. Especially those people who were planning to sell a home or buy a home right before the pandemic. So what can we expect for the market to come and how will buying and selling real estate change in the months and years to come.
Many real estate agencies are reporting that home buyers are putting in offers even without seeing a home in person so it is clear that the real estate market will not be completely shut down even under really unusual circumstances.
Anacortes real estate agents Jacki and Anya Mayo stated “We are seeing plenty of signs of activity continuing in the market and there is plenty of inventory so we expect to see and increase in sales in the coming months.
Real estate agencies are using a number of technologies to make it possible to see homes without even visiting them and narrow down the search before venturing out to do an in person search. Those technologies include everything from virtual reality to simpe things like video calls with the real estate agent walking around the home to show it to the potential buyer. In most case documents can be signed electronically now and virtual home tour technology is becoming more common place.
If you are looking to buy a home all of the normal advice applies. Make sure to give yourself enough time to find the right place for you. Get pre-approved for a home loan so when you find the home you want you can quickly put an offer in place. More tips include using real estate websites to find homes you may be interested in, let your realtor help you find properties and ask them if they can provide more photos or other media of the home than are currently on the websites. They can often go out and get photos or video or get the home owner to get more video or photos. Or they may be able to provide a virtual tour.
As inventory has grown many experts are expecting rapid home sales over the next year so it may be time to list your home if you are trying to sell. Watching the market closely for signs of price changes over time will help you keep tabs on the market and have an idea of what to expect as you list your home. Your real estate agent will have kept close tabs on the market and can advise you on pricing your home to sell quickly in the current real estate market.
Overall home prices will vary from market to market and while some parts of the country are expected to see slow downs in home sales other markets are expected to continue to grow and for prices to increase. Only time will tell how things work out but working closely with your real estate agent will help you get through and market conditions to achieve your real estate goals.