The Real Estate Market During the SIP
The real estate industry is busy adjusting to new practices and ways to support our clients during the SIP and beyond adapting to virtual marketing which will be an enhanced way to showcase our listings moving forward. Video slideshows, Matterport 3D floor plans and 2D floor plans, along with great photographs are just some of the new offerings that will become the “new normal” to any sophisticated marketing strategy.
Vacant homes have sold during the SIP, often with multiple offer, as the available inventory is low due to occupied homes being off limits for touring. That was until May 1st when the rules eased a bit to allow two people at once from the same household with their realtor to enter a property wearing masks, gloves and booties. We will now see an influx of new listings and an uptick in sales. With interest rates remaining low, the market is expected to pick up where it left off with no effect on home values. February of this year marked one of the highest in sales volume and prices in a decade.
Sheltering in place can’t help but put the focus on the place we shelter. For many of us, the first thought is gratitude. Complete gratitude that we have a place to shelter surrounded by our comforts and hopefully the people we love most in the world. And maybe after a few weeks, the ideas began on how to make it better in small ways, like weeding through our closets and cupboards of excess and tending to our garden transitioning from winter to the planting of our victory gardens. And in some cases it’s a bigger idea. Does “We need one more room!!” sounds familiar? If so, maybe an addition is in your future, or a detached structure for home office, arts & crafts room , or “mommy needs a time-out! Space.”
Maybe you just need to rearrange the furniture,have fun with paint colors, or a some new furniture pieces to change up or complete a look. A few changes can rock your world with new energy and an optimistic atmosphere.
Or maybe it’s bigger idea, maybe you’ve had a huge epiphany that it’s time for a move. Take this time to make your wish list and figure out what features you need or want in your new home. Maybe it’s not bigger, just different. Maybe you don’t need as big a lot, but you crave a view… If your mind is on real estate, there are things you can do now to prep your home for market readiness so we can hit the ground
running when the shelter in place is lifted. I have been consulting with sellers of upcoming listings on paint color selection, landscape choices, staging ideas and more, by sending photo’s and ideas to each other via text, email and zoom. Not excited to spend the cash up front to update for the market? Coldwell Banker offers a terrific service called Realvitalize. They will organize the service contractors, oversee the project and front the money for the upgrades! You pay them back out of your proceeds when the house sells. It’s a great program I am excited to share with you, just call for details.
Market Reports sent to your email as often as you want them: Wondering what's really happening in the market? Your home is likely one of your greatest financial assets. That's why my Market Reports help you evaluate and track home values in your neighborhood so you can keep your finger on the pulse of the market. If you're considering selling, the report will provide vital information regarding pricing and market activity. If you're considering buying, you'll receive a comprehensive overview of what's available in your desired areas and will be able to compare properties and prices all in one place. Just let me know if you would like to have this simple, straightforward report sent to your email automatically each week, month, or quarter.
If you are interested in a more detailed report, which would take into account the particulars of your specific property, I would be happy to provide a comprehensive Comparative Market Analysis (CMA).
It’s also a good time for buyers to be prepared for entering the purchase market with confidence by updating loan pre-approvals and possibly consult with your financial advisor to feel complete and solid with your own goals.
Remember that anything is possible once you know what you want to accomplish. Defining your current resources, what you need to change to reach your goals, and making a step by step action plan will get you to the finish line.