Lessons Learned from the Pandemic
What are we finding to be true when it comes to real estate in a pandemic? As we continue to do this essential work, there are a number of realizations and lessons learned during coronavirus.
The impact of coronavirus has been far reaching. Now that we’re a few months in, how does it apply to the real estate market? Has the Triangle market been hit the same way as the rest of the country during this new normal?
Don’t plan on home prices lowering! Our area is a strong seller’s market, so with inventory going down, the prices don’t seem to. Listings are lessening overall. Some are hesitant to list right now or want to wait a bit longer. Angie advises to get your home on the market now before everything opens back up again if you plan to sell it.
While more people are working from home, parts of the homebuying process can be a little bit slowed down. So far Angie and her team haven’t seen many delays with the exception being the appraisals. Even the attorney her team recommends has a plexiglass for the closing.
The longer we have stay-at-home and safer-at-home orders in place, the more opportunity you have to spend in your space. For some that means pouring into new home or yard projects. For others that might mean a stark realization that it’s time to find a different home with a better fit. How has the pandemic changed things in your living space?
Listen to the full episode to hear more or click on the timestamps below to skip ahead to a specific lesson.
0:38 - How is coronavirus impacting the real estate market right now?
1:16 - Don’t expect a huge housing price slash.
2:35 - There are fewer and fewer listings going up.
8:33 - Is paperwork is taking longer?
10:44 - People are really living in their homes right now.
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Angie Cole - Contact - Call: 919-538-6477