A common refrain of this quarantine has been the remarks and comments of everyone staying at home day-dreaming about what they will do when the stay-at-home orders are lifted and social distancing is relaxed.
“I just can’t wait until the quarantine and COVID-19 is over. I can’t wait to —- fill in the blank”.
People say they can’t wait to travel, eat in a restaurant, hangout at a Starbucks, go to the gym, watch a baseball game in person, and more!
Another common “wait until it is over” scenario is someone wanting to buy a home or sell and move. This actually contributes to the low inventory on the market. When sellers delay listings, then home buyers delay purchasing, when delays sellers listing because they can’t find a replacement property to move into. Before the coronavirus swept the country, we discussed this “chicken and the egg” dilemma in a blog post.
Not only are people at the edge of their doorstep to go out to eat at their favorite restaurant, but real estate economists forecast that there is a pent up demand for home buying and home selling. In fact, the National Association of REALTORS reported:
“After a pause, home sellers are gearing up to list their properties with the reopening of the economy,” says Lawrence Yun, NAR’s chief economist. “Plenty of buyers also appear ready to take advantage of record-low mortgage rates and the stability that comes with these locked-in monthly payments into future years.” (Source: “Homeowners Are Preparing to List After the Pandemic).
April showers bring May flowers, and springtime stay-at-home ordinances will bring an influx of eager home buyers and home sellers to our local markets.
What Home Owners Love and Dislike About Their Stay-At-Home Living
There is nothing like two months sheltering in place to remind. you what you LOVE and what you DISLIKE about your home.
In recent surveys, home owners ranked these things as what they loved about their homes: quiet neighborhood; Outdoor space; Close proximity to grocery stores and pharmacies; An updated kitchen for more cooking at home; and Natural light.
To extrapolate, we love a calm neighborhood where we can walk to the grocery store then make dinner in a spacious kitchen with natural light streaming in and then go outside and eat dinner on our own patio.
What did we dislike about our homes? 1 in 5 people surveyed just said they needed more space!
Other more livable and desirable features included an updated kitchen, home gym, different more modern style and aesthetics, and a yard or patio.
If you’re reading this and going “yes, yes, yes” then remember that you are not alone. If you are interested in listing your home after the stay-at-home order is lifted, in Phase 2 or Phase 3 of the reopening of the economy, contact us today.
Our real estate brokerage lists property with a comprehensive and proprietary marketing package that includes drone video, professional photography, hyper-targeted local marketing, and a package that makes “Just Listed” go into “Sale Pending” in the shortest amount of time. Our real estate agents are meeting with potential sellers and home buyers virtually, over the phone, and appropriately socially distanced situations (6 feet please) and we are happy to help you too!
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