Still can’t find paper towels at your local Target? Me neither. The pandemic has caused many everyday items that we take for granted to literally fly off the shelves.
We saw it this summer with playsets and trampolines, but the craze for outdoor enjoyment extended beyond kids play equipment to the outdoor assets a residential property boasted (like pools and patios). What could possibly be the next must-have to make your stay-at-home experience more tolerable this winter?
As we all know, 2020 has been a year like no other. A pandemic. High unemployment. Low-interest rates. An election year. Throughout it all, real estate has been steady and strong. Now we are on the brink of the holidays. With all of these factors at play, you may be wondering, when is the best time to sell your home?
In September we took our first look at comprehensive data to see whether there is evidence of “a flight to the suburbs” in the wake of COVID-19, wondering whether urban dwellers were seeking more elbow room and retreating from more dense living conditions. Two months ago, we said that any movement looked more like a ripple or a wave, and most certainly not a tsunami. With the passage of time and more data to examine, we’re seeing a ripple at best.
We’re now more than two months into the region’s – and the nation’s – efforts to cope with the COVID-19 pandemic and everyone, in every walk of life, has been impacted in some way. The real estate market is no exception. We believe that an important part of what we do at McEnearney Associates is to provide accurate, timely information to our clients so they can make informed decisions, and we want to offer a candid view of some of the myths and the truths about the state of the market.
Question: How do I navigate the current mortgage environment?
Answer: A great deal has changed in the mortgage industry over the past several weeks as the industry responds to COVID-19 economic concerns. Real estate agents and consumers need to be aware of the changes as they navigate the current residential real estate market.
Question: As a buyer, what should I know before diving into the current Virginia real estate market?
Answer: Real estate sales are governed by state contract law and property law. Depending on the circumstances, buyers in Virginia can expose themselves to significant risk if they are not fully aware of their rights and responsibilities.
A great deal has changed in the mortgage industry over the past two weeks as the industry responds to COVID-19 economic concerns. Real estate agents and consumers need to be aware of the changes as they navigate the current residential real estate market.
With restaurants and most activities closed, many businesses shuttered or the employees sent to work at home, and governors’ stay-at-home orders, you may have a lot of extra time on your hands. Many people are taking stock of their own personal situations during this crisis.
Now is a good time to consider whether you need a new home, or perhaps it’s time to downsize from the ol’ family homestead. The real estate market was very strong heading into the COVID-19 pandemic and there is good reason to believe it will regain its strength when the crisis passes. It isn’t dormant, however. Real estate transactions can, and do, still take place today.
Question: How do I sell a home during this coronavirus environment?
Answer: In good times and bad, there are few things more important to us than the place we call home. In uncertain times deciding to buy or sell a home can create increased angst and pressure on the individual that can influence the local real estate market. People who are being transferred in or out of the area may feel the greatest anxiety.
The limited inventory of houses available will, most likely, become even more limited as owners “hunker down and self-quarantine.” Expect fewer in-person viewings as buyers and their agents follow CDC guidelines for physical interactions, but prepare for increased demand of virtual showings with enhanced video and 3-D floorplans.
However, while these are extraordinary times, many practices can remain the same with a bit of tweaking. Sellers who are anxious about selling during this coronavirus challenge may find a bit of solace and opportunity in The Shannon Group’s Home Seller’s 11 Helpful Hints for success in today’s complex and jittery residential markets.