Content Divider
Blog Home » General » To Buy or Sell or Not to Buy or Sell?

To Buy or Sell or Not to Buy or Sell?

Real Estate For Sale

Don’t let a pandemic scare you away from buying your dream home or selling your dream home. There is always a way and a pandemic may be a rare moment to take advantage of certain aspects of life. Among them is real estate. 

But, according to Holland Real Estate in Concord, now is a great time for buyers and sellers.

“There has never been a better time to either buy or sell,” Holland said. “Buyers have limited inventory which makes it difficult for them, but mortgage rates have never been so low. They can buy more for that amount of money.”

Short term interest rates have recently been slashed to zero. This has encouraged more bank loans to households and businesses. It was a necessary step taken in order to deal with the economic wounds our country has faced. 

Among the challenges has been that of open houses, whose very nature has been re-evaluated and adapted. Social distancing is still being strongly enforced.

Two weeks ago, open-house activity was healthy, according to GBRE President and CEO Greg Vasil. But over the last 10 days, things have changed.

“Last weekend was much different,” he said. “Sellers didn’t necessarily want people coming in and out of their houses, because if you’re going to have to shelter in place and stay there, they don’t want anyone introducing anything in their home. And buyers are concerned about being in big crowds.”

For open houses, GBRE recommends requiring all visitors to disinfect their hands upon entering the home and provide alcohol-based hand sanitizers at the entryway, as well as soap and disposable towels in bathrooms.

Though social distancing has been taken into effect, others are putting in the effort to make it work. 

“The buyers are still out there,” she said. “If sellers get the offer they are asking for or multiple offers, there’s no reason to think you are going to do any better by waiting.”

But what is it about this unique time of pandemic that makes it a crucial moment to buy?

Because the economy may go into a recession with an uncertainty toward interest rates, it’s important to get on top of the market while the interest rates are low. In essence, homes will be easier to sell. 

“If you decide to sell, this is a great time,” Holland said. “There are a lot of buyers looking. You’re going to get the market value for that house. There’s no reason to think the market is going to try to cheat a seller or anything like that.”

There are a lot of homes for sale these days, ever since the market has evened itself out. 

“That’s why the buyers are still out there ... it comes down to inventory,” Holland said. “If you’re a seller and you’re thinking of selling, the competition is (light) which makes your property look that much better.”

Because of the social distancing restrictions, it is possible that there will be a slowdown. However, a lot of people are working tirelessly to avoid a scenario like this. The GBRE, especially, has been assembling a group of real estate professionals, lawyers and title insurance companies to handle closings and get insurance issued by the title companies. 

“We could at least keep transactions going,” Vasil said. “What we’ve been doing is working very hard to try to keep business transacting as much as possible.”

Real Estate For Sale

flags


CONTACT

  • Lydia Eskenazi PA

    Director of Real Estate Sales
    Harding Realty, Inc.

  • TELEPHONE

    +1 (305) 785-0440 Direct
    (305) 682-9051 Fax

  • OUR LOCATION

    9473 Harding Avenue
    Surfside, FL 33154

Real Estate For Sale
Real Estate For Sale
Terms / Privacy / Accessibility ADA