When we think of late spring and early summer, images of concerts, festivals, sports, and other fun activities come to mind. This summer, however, is looking bleak. Many events in the country have been cancelled and a good amount of businesses have been forced to alter the way they operate. One huge driving force in the economy is the real estate market. If you're someone who was planning on selling your home in the United States, you've probably been wondering if it's still possible.
Yes. Real estate transactions can still go on, albeit much differently. Today, we'll talk about the ins and outs of how to conquer real estate in quarantine.
Acknowledge the state of the economy
We'd be lying if we said that the economy is looking good. Many Americans have lost their jobs amidst most states shutting down, making it harder to sell during a recession. While it will definitely be more difficult, it won't be impossible. Before making the decision to move forward, ask yourself if you have the means to take on expenses and extra time.
For those who also plan on buying, low competition and dropping mortgage interest rates can actually make selling a house a good idea. Consult with a realtor, check over your finances, and also get the house clean and ready just in case. Work on DIY home improvement projects and get organized in case you decide to move forward.
Get your home ready
One of the only positive things about quarantine is the fact that it gives us more time to focus on cleaning and home improvement projects. One of our favorite tips for selling during the coronavirus pandemic is to get your house selling and move-out ready. Now might not be a good time to tackle the more expensive projects that require extra people to come in and out of your house, but it is an excellent time to tackle some of the more DIY improvements. Some ideas include painting some rooms in your house a nice neutral color, like gray. You can also rearrange spaces like bedrooms and living rooms to allow for more open space.
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Use technology to show online
Just a few months ago, nobody would be able to imagine buying a house without seeing it in its entirety first. However, with social distancing measures put in place, we're now thinking in quite the opposite way. Modern technology gives sellers the opportunity to still show a home without having to invite people inside. Some tips on how to show your house to buyers during coronavirus include decluttering, being mindful of good photography advice, recording good and lively video walkthroughs, and consulting with your agent. If you have the means, maybe consider a 3D video, which can add an additional flair to your online listing.
At the end of the day, staying positive is our biggest piece of advice. There are a lot of uncertainties right now, but knowing that there are brighter days ahead is what's key in getting us through this. We wish you the best of luck in your real estate endeavors and hope to see you back here soon!