I think we can all agree that 2020 has been a crazy year and a year that all of us did not expect to go the way we thought it would. These last few months have been close to being almost apocalyptic like. This Covid-19 outbreak has forced us into staying inside and not going out into the world.
It is insane how one virus can send the world into chaos. All of society being forced to wear masks everywhere, the waters oversea in Italy have become so clear that people can see the sea creatures again. In a way this has provided the Earth with a chance to breath, but what is it doing for society.
People are panicking about their family members who are in the specific age ranges where they are more likely to catch the disease and could potentially take them away. So, people are trying to sell and move, but is right now a good time to be doing so? Can the housing market afford all this buying and selling while our world is being placed into quarantine bubbles?
Apparently, it can.
In a recent poll that was released, around 75% of the real estate agents thought that our economy was stable enough to continue buying and selling properties. The only glooming shadow over this is the current rise in the unemployment rate. The more people begin to lose their jobs, the less amount of money will be spent in buying property. This pandemic could lead us back into another recession. We just do not know when this will happen.
Selling Your Home
Should I be selling my home?
This is the question you need to ask yourself when you begin to browse your options. If you are serious about selling your home, you need to look at the sales price. While the housing market is at a high right now, there is always a difference that and the real estate price/market. Most agents like to keep an eye on the variation because it can help them see when things may begin to drop. Unfortunately, the real estate response is slower than the sale prices, so it may take a few days for them to notice the dip between the two.
At the current moment it may currently be the time to start selling or buying homes, but that time window will not be open for much longer probably. However, if you are wanting to sell your home then you may want to consider another option than selling through a realtor. Due to the rise in the unemployment numbers, it can slowly become harder to receive loans or funds from a bank to buy the properties. This will be a hard spot to be in if someone needs buying a home but has hardly any funding to help them out.
This also limits the amount of people who will be looking at your home.
If you are still interested in selling your home, you could always consider showing you on the open marketplace. This will allow people to walk in and see the condition of your home and look at both the interior and exterior. There is only just one major downside to showing your home on an open marketplace, you never know who you are letting into your home. With the Covid-19 going around, you do not know who has the virus and who does not.
You can always ask people to wear masks while they are inside the house, but you still cannot control who already has the virus. This will make the open house showing stressful and could worry other people who have been to the home already and those to come as well.
Another way you could show your home if you felt uncomfortable with having others inside the home would be by virtual showings. This is where the realtor can take pictures and videos of your property and placing them into a slideshow/ video that they can place on their website. You can also help share and promote this through your social media as another way of promoting, advertise, and marketing your home. The more you can show off your home, the sooner you can bring in a future potential buyer.
If you become fortunate enough to find a buyer, you may want to prepare yourself for further setbacks with this Covid-19 taking its effects on both your side and theirs as well. Your buyers may face setbacks like handling the mortgages and that application process for trying to get a loan from the bank. This process for them will be a struggle and it can sometimes cause them to step away from the offer, or they could face the chance at losing the deposit on the home.
As the buyers struggle with gathering up the money, the sellers (yourself) will face hardships as well. It is a struggle to go through the process of selling your home because it can put a strain on yourself. Especially if you are in the process of selling one home and moving/buying a new home. That would put you in more a stressful and financial strain on yourself and your family. Hopefully once you can close on a property, help make it a quick sale for both parties. Always make sure you fill out the proper paperwork and have everything ready to go when you are in the final sale process. This will make everything easier on both parties and complete it quicker.
Selling to A Home Buying Company
During this Covid-19 panic, sometimes it may seem easier to sell your home to a company that is willing to buy your home as is. This may be the best way of selling your home because you do not have to worry about fixing the repairs on the home, you do not have to open your doors to potential buyers to walk around your home and possibly contaminate your environment. In a sale like this, it really is a fast pace process. You have the company offer to buy the home, within a few weeks you have signed over the paperwork, and then in a few days to a couple of weeks you will have the cash in your hands. With this process you do not have to wait a few months to get the money or have to take the money you earned and pay a portion to the realtors that helped you sell your home. Once again that is no paying extra money out of your pocket for their (the real estate agents) fee is, paying them a commission, and even having to pay a closing cost on the home.
This allows you to keep and make more money that you can now go use to purchase another house or whatever you would like to do with your money. During this pandemic, I honestly think this is the best way for most people
As you can see, this process can be long and at some point, a little bit crazy – especially with our economy going through this Covid-19 pandemic.
If you are still considering selling your home by the end of this article, I would highly suggest selling your homes to companies who are willing to buy your properties. By choosing this process, you are freeing yourself from the stress that you would be facing if you chose to sell via realtors. This way, choosing the home buying companies, you can save yourself the risk of exposure to the coronavirus and those who live in your home with you. Along with being given a quick sale and a fair market price for your home, you are choosing to work with people who know exactly how to do their job and make your lives less stressful. You are guaranteed a better chance of selling your home to them than you would if you placed it on the market.
An easy and stress-free life is the life that we all deserve, especially when we are dealing with the pandemic and crazy turn of the home sale prices and real estate prices too. So, when you are looking at all your options for selling your home and who you choose to use to sell, consider your surroundings. Look at the situation that is going on in the world and let that help you make your decision based on what you know. The more that you know, the more that you are going to feel confident in your selling experience. Rather you choose to sell with a real estate agent or selling your home to a home buying company.
Whatever you choose to do, feel confident in that decision. This is your home that you are placing on the market, and you want to feel like you are getting the most for your money. You need to make sure that you are doing what is right for you and your family.