There is no doubt that the real estate market will not work as it used to operate during the COVID-19 Pandemic. But the question is how the crisis affects the real estate market?
Are we going to have a big crash on home prices? Or real estate is going to be booming after the crisis is gone?
For sellers, is it wise to put your property in the market for sale no, or better to wait?
How about Buyers? Is it a good time to buy a home now or should wait for the near future when the market “crashes”? Of course, if it crashes!
We believe those sellers that for different reasons have to sell in the next few months, should list their homes now with no delay with a fair market value.
People who plan to buy a house or condo keep searching for their dream home on the internet, especially these days that are at home all the time and behind their laptop or mobile searching for available homes for sale.
One of the main issues for buyers, when they find a house online, is that they cannot visit and physically see it. Showing property is very difficult and almost impossible. Without seeing a house, most buyers hesitate to proceed for purchase and they keep the listing in their favorite.
But the good news is, as soon as the crisis slows down and people can get out of their home and see the listings, the market gets crazy. All interested buyers who have seen the house will come forward at the same time to see the house and bring their offer. So, sellers receive multiple offers.
Usually, spring and summer are the busiest seasons of real estate, but under current challenging circumstances, the hot season will be postponed to fall and winter.
So, Sellers should not hesitate a moment to go to the market. Sellers don’t need to be worried if listings don’t get enough showing and no offer comes. Buyers see them online and will come for them when the time is right.