Putting your home on the market amid a pandemic would not be at the top of most people’s to-do list but it’s not the worst time to sell. Demand for housing is still strong despite the hits to the economy and stock market. Many people still need to move, and many others are still looking to buy as can be seen by a recent spike in mortgage applications, according to the Mortgage Bankers Association.
For the first week of march, new listings across the country were down 29% annually, and the total supply of homes for sale was down 19% according to realtor.com. Now, new listings and open houses are starting to pick up as some states begin to reopen. North Carolina entered Phase One of Governor Roy Cooper’s plan to gradually reopen the state on May 8th. It included lifting some restrictions on purchasing a home. Most notably, you can now tour an occupied home, although you are still encouraged to practice social distancing by staying at least six feet apart as well as clean and disinfect any surfaces touched.
Selling a home is stressful enough and selling in the age of all the health guidelines may seem worse, but it doesn’t have to be. Here are a few some simple strategies that can help make selling your home as stress-free as possible.
Staging. Some people may still feel uncomfortable allowing potential buyers into their home so staging your home has never been more important. Resist the urge to save on staging, in fact you may even want to step it up. This is a good tip to remember even if you are not letting people in your home. Virtual technology and 3-D touring allow buyers to move through the home on their own but still seeing a beautifully staged home can make a world of difference.
Be careful not to overprice the home. Nationally, home prices have not started to fall yet and the big gains going into 2020 are gone. Supply may be at a record low but Buyer demand, especially in the Charlotte region is still strong. There may be little to choose from on the market right now in comparison to this time last year but with the uncertainty of the economy, bidding wars are few and far between. Many buyers aren’t desperate right now and are more likely to jump at a bargain than they are to pay a premium.
Lastly, and most importantly, hire a Realtor. A real estate professional will help set a realistic price that meets your financial goals. They can advise you on needed repairs that a homebuyer will demand and ensure that the home is professionally staged and shown. Above all else: An experienced agent will be able to walk you through any anxiety you may have about selling your home right now, so you focus on life.
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