What I Need to Sell My Home During the Coronavirus

Firstly, every day that passes, people have a need to buy and sell homes. Especially if they are wondering what if I need to sell my home during the pandemic. It has not stopped during the current pandemic. If you’ve had a major life change recently, you may be in a position where you need to sell your home. And Fast! While you probably feel like timing with the current pandemic isn’t on your side, that is false. Making a move is still very possible. Rest assured, with our technology at your side and fewer sellers on the market, you can list your house and make it. Most Importantly make it happen safely and effectively. Especially when following the current COVID-19 guidelines. Furthermore these were set forth by the National Association of Realtors (NAR) and the Centers for Disease Control and Prevention (CDC).

You may have a new baby, a new employment situation, or you just built a home that’s finally ready to move into. Maybe even some other major part of your life that has changed in recent weeks. Buyers have those needs too! You can rest assured that someone is likely looking for a home just like yours.

According to the NAR Flash Survey: Economic Pulse taken April 5 – 6, real estate agents indicate, not surprisingly, that there’s a noticeable decline in current homebuyer interest. That said, 10% of agents stating in the same survey that they saw no change or even an increase in buyer activity. So, while buyer interest is low compared to normal spring markets, there are still buyers in the market. Don’t forget, you only need one buyer – the right one for your home.

Here’s the other thing – people are spending a lot of time on the Internet right now. Buyers are actively looking at homes for sale online. Some of them are reaching out to real estate professionals for virtual tours and getting ready to make offers. Homes are being sold in many markets.

There Is Less Competition Right Now , so What I Need to Sell my Home During the Coronavirus

Furthermore, 56% of home sellers are removing their homes from the market. This can definitely work in your favor. Although other sellers are removing their listings, your home has a better chance of being notived. Keep in mind, listings will pick up again soon. This is because 57% sellers are only planning to delay the process. If you need to sell right now, don’t wait for the competition to get back in!

Delayed listings from the typically busy spring season will push into the summer months, so more competition will be coming to the market as the pandemic passes. Getting ahead of that wave now might be your biggest opportunity.

The McLain Realty Team can Help Selling your home during the Pandemic

Furthermore, our Real estate team is working hard every single day. Under traditional circumstances, utilizing technology to help both buyers and sellers who need to continue with their plans.

We’re using virtual tours to show homes currently on the market
We are holding Online Virtual Open Houses
We constantly stay connected with the buyers and sellers through video chats, leveraging resources to complete transactions electronically.
Most Importantly, we’re making sure the families we support remain safe especially as life is changing so rapidly.

Bottom Line

Finally, homes are still being bought and sold in the midst of this pandemic. If you need to sell your house and would like to know the current status in our local market, let’s work together to create a safe and effective plan that works for you and your family.

Firstly, there is a BIG Opportunity in the Luxury Market This Year for Luxury Real Estate Near Me!

Luxury Homes priced in the top 25% of a price range for a particular area of the country are considered “premium homes.” At the start of last year, many of the more expensive homes listed for sale hadn’t seen as much interest. Much of the demand for housing over the past few years has come from first-time buyers. It looks like buyer activity, however, is starting to show a shift in this segment.

According to the January Luxury Report from the Institute for Luxury Home Marketing (ILHM):

“In a snapshot of 2019, despite pessimism at the start of the year, the last quarter showcased a strengthening, with an upswing in the luxury market for sales in both the single family and condo markets.”

So Where are we Heading?

Momentum is growing, and those looking to enter the luxury market are poised for success in 2020. There is more inventory available at the upper-end. The historically low interest rates and increasing wages help. The stage is set for buyers with an interest in this tier to embrace the perfect move-up opportunity.

The report highlights the increase in buyer activity in this segment, resulting in growing sales toward the end of 2019:

“According to reports from many luxury real estate professionals, the significant increase in number of properties bought at the end of 2019 versus 2018 is reflective of an early 2019 holding pattern.”

With evidence of strong buyer confidence, this is great news, as more homeowners are building equity and growing their net worth throughout the country:

“Many homeowners are now diversifying their wealth, owning several properties rather than a single mega mansion. In addition, there have been an increase number of home purchases taking place in smaller cities, reflecting the rising number of people relocating from major metropolises.”

It is a great time to explore the luxury market. Luxury can mean different things to different people, too. To one person, luxury is a secluded home with plenty of property and privacy. To another, it is a penthouse at the center of a bustling city. Knowing what characteristics mean luxury to you will help your agent understand.

Bottom Line

If you’re thinking about upgrading your current house to a luxury home, or adding an additional property to your portfolio, let’s get together to determine if you’re ready to make your move. Check out our Luxury Homes for Sale in NJ at your Earliest Convenience!