July 7, 2020

Is it a good time to sell?

With every day bringing a fresh batch of chaotic news in 2020, you may wonder if it’s a good time to consider selling your home.

It’s not unusual to want to leave somewhere you were sure you wanted to stay just a few years ago. According to the U.S. Census, about 12 percent of the population moves each year. The urge has become stronger this year, with up to 1/3 of city dwellers considering relocation.

In the wake of the coronavirus pandemic, many urban home and condo owners are looking to move to a more suburban setting. With all the time spent at home, lack of space and worrying about neighbors may have been your last straw.

Whatever the reason, you’ll know when you’re ready: When the stresses of staying put outweigh the stresses of moving. It's something we all think about from time to time.

With low mortgage interest rates meeting low supply, housing demand is "through the roof" and that translates to higher prices. If you are a current homeowner, you can likely get top dollar for your home today.

But you may ask: Is it safe to go through the traditional home showing and selling process? If you’re not ready to have people in your home yet, there are plenty of options for showing online.

It’s a good idea to chat with a local real estate agent to get the pulse on your market. Most will tell you, when it comes to online advertising - “more is more.” More information, more pictures, and a dynamic narrative track are key to getting customer attention.

But if you are ready to welcome visitors, you should have plenty of customers. According to surveys, 65 % of buyers are once again willing to take physical tours of homes they are considering, despite all the social distancing restrictions.

Even with mandatory masks, analysts believe the 2020 summer home-buying market will be hotter than expected, and will continue rolling into 2021.

Lastly, don’t forget your own home shopping needs, either. After all, if you’re like most sellers, you’ll soon be a buyer, too.

Your local Bay Equity loan officer and other financial professionals can be of service, determining what loan programs are right for you.