Realtoring during Quarantine
Shelter, it's one necessity we may not have valued as much as we may today. Being at home now more than ever, we're noticing the little things(tiny projects, thoughts of summer bbq's & gardens, routine maintenance) & BIG things(space, # of toilets, yard, etc.) and it's probably focusing us into questioning our relationship with our current abode. You may actually start asking yourself if your current space actually works?
Rest assured, while showing activity has changed, real estate is an essential service and it continues. It's still happening. I'm still here and willing to help. I'll tell you how below:
If you are a seller, you'll be experiencing A LOT fewer showings. Remember, that's AOK! You can only actually sell to 1 buyer. All you need is 1 interested party and the amount of flakey lookie-lou's/nosey neighbors will be completely eliminated. Plus, this is a great time to put in a bit of elbow grease to make your property more appealing and potentially make more $!!!
If you are a buyer, you'll most likely be looking at the homes you absolutely LOVE. Your time is valuable, and there's no need to spend time on properties that you don't find as a final candidate. RATES ARE CRAZY LOW, and this is going to be WAY MORE VALUABLE THAN a lower price. You may be thinking about waiting for prices to come down, but if rates go up, how does that effect your monthly payment?
Make sure you're focus is on the real goal, finding a home that actually fits your current - 5 year needs.
Here's what to expect once you find a house you want to see in person
1. Get preapproved.
2. Review the Matterport/Virtual Tour/Floor Plans and make sure you feel like the house fits your needs and is a true contender. Does it actually fit the parameters of what you wanted or are you making concessions because of inventory levels?
3. If there is no virtual tour, set up a virtual showing with your agent and have them walk you through the home on Facetime or What's App.
4. Set up an appointment to view the house. You'll be signing some paperwork if the house is occupied and viewing the house with social distancing safety precautions.
5. Whether it's vacant or not, I'll be providing gloves and the seller's agent will be providing booties. We'll have hand sanitizer available for afterwards.
Not SOOOOOOOOOOOOOOOO terrible RIGHT????? And if you're fortunate enough to be looking right now, YEAH YOU! Personally I don't think prices are going to adjust so drastically BUT, I do think there's an opportunity in regards to inventory availability paired with interest rates.
I'm keeping tabs on current inventory levels and interest rates daily. I'd love to hear your thoughts and feedback on the market and future of the Portland real estate market. Unlike 2008, the changes in the market are not based on bad loans. Instead although we're facing unemployment issues, the housing market in Portland going into the quarantine was at an ALL TIME LOW!!!!! A bit of increased inventory will only give buyers more choice and sellers with those completed updates to demand more. WIN-WIN
Otherwise, there's always Mom's basement and I hear the meatloaf on Sundays is AMAZING!