Spring is the most ideal time to sell a home. However, this spring isn’t one of those regular seasons that you could easily put your home up for sale. The coronavirus pandemic is putting a lot of strain on the economy. It is affecting everything from major companies down to the very ends of the real estate market. Now, the question everyone is asking their real estate agent is whether or not, they should sell their home during this time. Most people are hesitant to sell their homes and it’s all for good reason. Here are some insights on selling a home in the middle of a crisis.
What your real estate agent has to say about selling a home these days
It’s no surprise for any would-be home seller to take caution during these times. If you’re in the position where you need to relocate to another state for personal or business reasons, you shouldn’t let the coronavirus stop you. According to the latest from CISA (Cybersecurity and Infrastructure Security Agency), residential real estate sales are considered an essential service. This means sales of residential homes are allowed. Of course, you would need to check with your local Myrtle Beach real estate agent for more information about the specifics in your area.
Online home listing has a lot of bearing during the pandemic
It’s not enough to post a few pictures of your home. It simply won’t make the cut. Now that online presence matters the most, you would need to invest in quality pictures, videos, and other digital platforms should you want to sell your home as soon as possible. You should check with a reliable listing agent for more information about what to do during these trying times.
Photos and videos need to be of high quality. Poor resolution and unengaging takes on one’s home wouldn’t draw much attention from the buying public. What you need is to take all the essential information about your home and translate that into pictures and videos. That’s how you can make it during this time. Anything less than that would have little chance of getting sold.
How does the coronavirus impact today’s real estate market and buyers?
According to recent reports, homes being sold in the market in the month of March this year has gone down by 15.7% than the same time last year. This low inventory is a boon for sellers since there are fewer options that buyers can choose from. House prices are also up from last year with median listing prices up by 3.8%. When you factor that in, selling a home isn’t as hard as it sounds. But it does not come without any caveats.
Selling a home today might take longer than usual
The coronavirus has led the economy to slow down significantly if not to a grinding halt. With that, the real estate market is also affected. Selling a home nowadays would take longer. This is due to the fact that fewer companies are open. Lenders, home inspectors, and other companies involved in real estate transactions have slowed down. Even if you were to enlist the help of Full Potential Real Estate, LLC, it will still take some time before you could close the deal and have all the paperwork taken care of.
Looking for a good realtor to help you out with buying or selling a property? Call Full Potential Real Estate, LLC today!
Full Potential Real Estate, LLC
Myrtle Beach, SC 29577