What did COVID do to the housing market?
The coronavirus pandemic has had profound impacts on the housing market. House flipping and residential real estate investing have risen drastically, with real estate analytics firms reporting that investors bought a record high 28 percent of all single-family homes in the first quarter of 2022.
The real estate industry has undergone a dramatic transformation since the onset of COVID-19. However, because the virus is still in play, as you approach selling your home in Los Banos and Surrounding areas, it’s helpful to understand how these changes may affect your sale. So read on as we explore three ways selling your home in Los Banos and Surrounding areas has changed since COVID-19.
People ask Tom and Nancy Buy Houses this question all the time:
Is it a good time to sell right now?
Late spring and early summer are generally the best times to sell a house. Traditionally, low mortgage rates and short supply make it a good time to sell. While today’s rates are still high, low inventory is keeping sellers in the driver’s seat in most markets.
Here are the 3 ways selling your home in Los Banos, Ca and surrounding areas since Covid 19.
Home Based Lifestyle
One of the ways selling your home in Los Banos and Surrounding areas has changed since COVID-19 is in the demands of buyers who now focus on spending more time at home. If your home doesn’t offer spaces for a home office, workouts, schooling or outdoor family activities, it’s worth considering remodeling to bring the highest profit on your sale. Acting as real estate agents, the hybrid agents at Tom and Nancy Buy Houses can guide you through the process, help you make the most of your property, and bring in top dollar for your listing. If you don’t have the time, money or interest in upgrades or renovations, you can keep your money in your pocket; hybrid agents like those at Tom and Nancy Buy Houses acting as investors buy houses as-is. Or, ask about a hybrid sale, where your hybrid agent investor from Tom and Nancy Buy Houses earns a commission on the as-is value, then, as an investor, partners with you to make improvements and fairly splits the profits with sellers on the after-repair value.
Another way selling your home in Los Banos and Surrounding areas has changed since COVID-19 is in the methods used to market properties. Professional virtual tours and high-quality digital imagery are must-haves to compete against other listings online. Top agents understand that the final sales price difference from hiring a professional stager is well worth the expense. When acting as real estate agents, the hybrid agents at Tom and Nancy Buy Houses utilize the latest technology to bring the highest profits. Hybrid agents like those at Tom and Nancy Buy Houses acting as an investor will detail your expenses and what you could profit with a direct sale and compare that to your current market value. At Tom and Nancy Buy Houses, our agent investors will make you an offer you’ll agree is fair and never charge commissions, and there are never any hidden fees.
Post Showing Cleanings
Post-showing disinfecting procedures are another of the ways selling your home in Los Banos and Surrounding areas has changed since COVID-19. While the restrictions have eased, you should still ask what steps the agent will take responsibility for when you speak with them about their showing process. You can be sure that acting as real estate agents, the hybrid agents at Tom and Nancy Buy Houses will take every necessary precaution. On the other hand, hybrid agents like those at Tom and Nancy Buy Houses acting as an investor mean no showings and no worries about cleaning or the hassles of being ready to leave your home at the drop of a pin.
The hybrid agents at Tom and Nancy Buy Houses make it easy to deal with all of the ways selling your home in Los Banos and Surrounding areas has changed since COVID-19. At Tom and Nancy Buy Houses, we want to make a deal you’ll feel good about long after closing. Our full-service in-house team of industry specialists at Tom and Nancy Buy Houses makes the process quick, easy, and convenient. Tom and Nancy Buy Houses offers a one-stop solution for every seller and every home. For a guaranteed closing, often within days, by making a direct sale to hybrid agents like those at Tom and Nancy Buy Houses acting as investors. Talk to your hybrid agent investor at Tom and Nancy Buy Houses about selecting a more convenient date for the closing. Or, if you are ready to sell for the highest possible profits, then your answer is selling your home in Los Banos and Surrounding areas with one of our hybrid agents acting as a real estate agent. Call Tom and Nancy Buy Houses at 559-715-1651..
Tom and Nancy Buy Houses are asked these questions all the time:
- Is it a good time to sell right now?
Late spring and early summer are generally the best times to sell a house. Traditionally, low mortgage rates and short supply make it a good time to sell. While today’s rates are still high, low inventory is keeping sellers in the driver’s seat in most markets. Going through foreclosure, Divorce, job relocation, Vacant house, tired Landlord, Tom and Nancy Buy Houses are here for you. Tom and Nancy know that the 3 ways of selling your house during Covid might not be the perfect solution for you.
2) Will a recession lower house prices?
Will house prices go down in a recession? While the cost of financing a home typically increases when interest rates are on the rise, home prices themselves may actually decline. “Usually, during a recession or periods of higher interest rates, demand slows and values of homes come down,”
3) Why the housing market will crash in 2023?
Most experts do not expect a housing market crash in 2023 since many homeowners have built up significant equity in their homes. The issue is primarily an affordability crisis. High interest rates and inflated home values have made purchasing a home challenging for first-time homebuyers.
What is the housing market forecast for 2023 in California?
“Home prices will also moderate further over the next several months as interest rates remain elevated in the near term and seasonal factors come into play.” 2023 California Housing Market Forecast report, predicts a 7.2% drop existing single-family home sales in 2023. Due to loss of jobs, Covid, economy, etc.
5) Is it better to have cash or property in a recession?
Cash is an important asset when it comes to recessions. After all, if you do end up in a situation where you need to pull from your assets, it helps to have a dedicated emergency fund to fall back on. Especially if you experience a layoff.
Tom and Nancy Buy Houses in the Merced County and surrounding counties to help out in situations, we have several options that we can help you with. You chose the one that is right for you. Contact us at 559-715-1651 if you would like more information from Tom and Nancy Buy Houses.