How to Buy or Sell A Home During These Quarantine Times
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Like many others, you may have planned to start the home-buying process this spring or, maybe you were considering listing your home and then all of a sudden a pandemic broke out and everyone went into quarantine. It seems like the worst time to make such a big change, but we’re here to tell you how to do it and why it’s actually a good time. Even with current stay-at-home orders in place, you can still buy or sell so we sat down with our friends at The Glaser Group for the inside scoop. Did you know they also offer a $1,000 rebate from RVAx members? More on that member perk here.
— RVAx Team
How has this pandemic affected Richmond real estate?
“While much of the home buying and selling processes have shifted to virtual activities, we are still seeing significant movement within the real estate market. People who wanted to sell their home pre-COVID are still in the same position and we are finding this is not deterring sellers from listing. Similarly, those who were interested in buying are still looking and they certainly have options.”
If you are looking to buy, Alex says it is best to work with an agent from the start as many listings go live on the MLS website before they are shared to public sites like Zillow. After an initial consultation, which can be done virtually, you will receive listings directly to your inbox that match your wants and needs. Since the market remains competitive, this is the single most important edge you can give yourself as you begin this process.
With the current stay-at-home order, and the forthcoming safe-at-home suggestions, how do you host a showing?
“Even before COVID, we had a full-time professional videographer on our team to create video walk-through tours and 3D virtual tours. Not only can potential buyers flip through professional photos of the home from inside out, but they can take a virtual tour to really get the feel of the space.
Ultimately, buyers still want to see the home in person before making an offer. But the virtual tours and videos are helping buyers eliminate homes from their list making the in-person showings more efficient. With the use of gloves, masks, social distancing protocols, and copious amounts of hand sanitizer, everyone is doing their best to shop for a home as safely as possible. Most home sellers are leaving all interior doors open which allows a potential buyer to walk around without touching anything.”
This is quite the benefit for home sellers as well. With multiple resources available to showcase your home, you are putting yourself in the best position to attract potential buyers.
But is now really a good time to buy or sell?
“Despite everything going on right now, interest rates are still near record lows and the housing demand remains high for the Richmond region. The primary difference is that the market is a little less hectic than the average spring market. We are seeing about 15% less active listings right now than this time last year and some buyers have decided to wait to see what happens before moving. But, what I have found is that anyone looking to move right now has a high level of motivation which provides an opportunity for both home buyers and sellers to do something now versus waiting.”
While a few mortgage guidelines have changed in response to the current market condition, Alex says they are still seeing plenty of lending transactions moving smoothly through the process. If you’re looking for a trusted loan officer, Alex recommends contacting Phillip Coon at C&F Mortgage.
How do I connect with the right real estate agent?
“In addition to virtual showings, we are offering virtual consultations! We’ve been practicing real estate for a long time so our initial meeting is thorough and gives the buyer or seller an opportunity to really get to know us while we learn about their needs, wants, and any concerns they may have. In other cases, at the client’s request, we are meeting in person while adhering to all current guidelines surrounding social distancing and safety. The entire process is tailored to each client’s specific needs.”
If you are considering listing your home, or you are interested in buying a home, connect with Alex Glaser to get started! Schedule a virtual consultation to continue the conversation and check out his five-star reviews on Google and Zillow.
And don’t forget, Alex offers a $1,000 rebate for RVAx members! Learn more about that member perk here.
