How does the coronavirus impact the value of your homes?
It’s a question or one like it that I am asked every day, and the answer is not quite what you think the market hasn’t been as affected and in some areas not at all compared to what many may think is happening, and the reasons are three.
No 1; Supply and Demand
Supply and demand even though there may be fewer international buyers because they’re not traveling or fewer buyers in general based on unemployment, sellers have also retracted the volume of homes that have been on the market, which normalizes supply and demand. I’m also finding that in certain markets like Los Angeles, unemployment hasn’t affected the volume of home buyers that might still be in the market, making it still, as I said, supply and demand very much an aggressive market.
No 2; Sellers are Extremely Realistic
Sellers understand that we are in a new world. They need to price accordingly to where the market would be, so you’re finding more sellers being realistic and fewer buyers in the marketplace. It still has the ability to drive prices upward. I have multiple clients these years that have been multiple offers already, which doesn’t make sense.
No 3; Space Awareness
Most importantly is that homeowners renters people living in space have never been more intimately aware of their surroundings a lack of yard or a lack of a home office a lack of the type of space they want, and it is pushing them to want to move these all roll together to show that the pandemic hasn’t affected home prices or evaluations as much as you would think now I would love to able to answer any other questions that you have about what’s happening in home buying selling or investing Click Here.I would love for you to schedule a 15-minute community call with me. There is no pressure. There is no selling; I’m just here to be a resource for everyone here within the community now. At any point, if you are interested in buying or selling, I have a checklist that I would love to be able to send you that includes some great information about today’s environment I think you would want to see, and I’ll pass it to you for free. The only favor that I would ask is if you are considering buying or selling that I get a chance to interview for the job, so until then, this is Erik Brown, your local real estate agent. Visit more blogs…
Realtor/ Broker (BRE: 01958545)
Beverly Hills: 424-239-6519