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Should home buyers be buying during the COVID-19 pandemic?

March 24, 2020

Should home buyers be buying during the COVID-19 pandemic?

Stayed tuned and I will answer that question!

Hi everyone! There are things going in the on in the world today that I have never seen in my lifetime. With travel and entertainment industries shut down worldwide. I mean did anyone ever think that the casinos in Vegas would ever shut their doors. In the metro east you have schools, bars, restaurants, movie theatres, courts and many more businesses on a temporary shutdown.

There is uncertainty out there and I get that. Now I’m still not sure how toilet paper became the most valuable commodity on earth. But I know what is going on now will pass. How long will that be? Two weeks? A month? Maybe longer? No one knows.

But despite all that’s going on. The metro east real estate market is doing well. In fact, very well. Look there has been some changes in buying a home in today’s climate. But nothing that should keep any buyer or seller from having great success!

In my professional opinion there are three factors driving our market!

1. The spring housing market never really got started. Sellers weren’t putting their homes on the market. Maybe because of the talk of the virus in the winter months, or for other reasons. Leaving a very low selection for buyers to buy! But the homes that are out there. Are being sold fast and for top dollar!

2. Interest rates are at historic lows which is also driving the market. Many buyers want to take advantage of saving potentially 1000’s of dollars over the life of their loan!

3. Having been a successful realtor for almost twenty years. I have learned there are always buyers that need to buy. And sellers needing to sell. No matter what is going on in the world!

In fact, I have buyers I am working with now that of course are pre-approved so they can present a stronger offer and be in a position to potentially beat out other buyers. They narrow their list of homes down to 5 or 6. And then I recommend they narrow it down to the top 3 that they have their heart set on. And then we go out and buy their dream home!

But I also have buyers that want to wait a week or two or longer. And that’s okay. I send them homes that meet their criteria, in some cases video homes they have strong interest in. I recently had some buyers buy home from video alone!

So how should buyers make an informed decision on buying a home in this climate. Unfortunately, there are too many buyers’ agents out there that rely on the on the wall to wall 24/7 news coverage with pundits galore stating more opinions than fact. Or they rely on blogs out there that fall into that same category too. And then there are some agents that advise their clients from what they see on Facebook!

I have done my research. I recommend to my buyers they go to a proven source that is not only unbiased but has the most up to date information based on science when making their buying decision. And that’s the Centers for Disease Control website. So buyers can the best decision for them and their family! That’s I highly recommend it!

If you haven’t already hit the subscribe button and rung the bell. You want to do that now. Because you don’t want to miss next week’s episode. Where I will be talking about what sellers should be doing during this pandemic.

Who do you know looking take advantage of these historical low interest rates? Or wants to wait for a while but wants an agent to work for them to keep them informed on the market? Have them call or text my private number at 618-210-2451 today. So, they can buy their dream home now or in the near future!

Until next time. Make it a great day!

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