The stock market has become volatile in response to virus-related uncertainty, so it’s not the best time to buy or sell stock. However, since interest rates have hit an all-time low, the Maryland real estate market is a good place to turn a profit. Inventory is low and demand is high.Long-term confidence in local real estate markets seems to carry more weight than COVID-19. Buyers are eagerly snapping up the best deals before other buyers beat them to it.
If the virus triggers a minor recession or causes a prolonged shutdown, it will probably decrease demand without affecting prices. Instead of causing prices to drop, it would keep prices from rising so fast. It could even benefit sellers in especially competitive markets.
Maryland’s housing market offers tremendous opportunities. If you’re in the market to buy or sell a home, this is an opportune time to do it.
It’s time to learn how to protect yourself and your clients from other unnecessary risks. We perform on-site search and retrieval of a variety of documents including bankruptcy, civil records, UCC, judgments, and recorded/unrecorded liens. We specialize in all real estate transactions including but not limited to purchases, refinances and commercial transfers.
As a real estate agents in Baltimore,recent scenario is clients wanting to sell their homes, but have legitimate concerns with the Coronavirus, and the homeowners really want to sell the property to move on with their family’s personal goals. They are asking us what the solution is to this problem and how to do this safely.
It’s clear that there are a lot of buyers in the market right now and sellers are not excited to put their home on the market. Therefore only serious sellers will put their home on the market. The still dropping low-interest mortgage rates is a major incentive for buyers and is fuelling those that have a strong desire to buy.
A unique problem is how we sell a house when everyone is being appropriately cautious about potential exposure to the coronavirus. Traditionally an open house with lots of people and multiple private showings is how we do it .But, right now, the traditional way is not the safest way.
The biggest question we as are facing: What can we do to help solve this problem and protect everyone involved?
Practically, people do still need a place to live. They also need to move due to family, work or personal reasons. However, necessary actions need to be taken in order to protect the health and well-being of the clients, agents and community.
Buying a Home:
Buyers and Buyers Agents need to spend more time doing research during the buyer consultation. These are the key things that need to be discovered:
- Exactly what they would be willing to buy
- Lifestyle desires and priorities
- Their criteria for features
- The deal-breakers
- Purchasing power and remodel budget
- Property types, models, lot sizes, and all other options
- Pros and cons of different cities, neighbourhoods, and communities.
When this research is not thoroughly completed, Buyer Agent’s and their client end up touring multiple homes.
Best solution is,Buyers and Buyers Agents need to have a thorough consultation and go deeply as possible in a safe office environment, at home with a laptop, or a safe environment in which you can really explore every facet of what you want in the house and community. Doing the through research saves everyone time and helps both parties involved reduce the need to drive and walk through multiple homes.
A buyer agent can help you with:
- Do virtual consultations
- Go safely preview the property for the buyer
- Record/do live virtual showings and house tours
- Set up safe private showings coordinated with the listing agents
- Electronic document signing
- Negotiate and write offers online through electronic documents
- Have deep discussions with the listing agents about the pros and cons of the property to determine whether or not that property is something that the buyer should see saving everybody a lot of time.
Ultimately keeping people safe from lots of unnecessary exposure is the protocol for buyers and sellers who have to do something now.For home buyers, this is truly when the value of a great professional real estate agent can make the difference in not only saving time, gas – drive time, provide unique hyper-local expertise and simply protect their clients.
Selling a Home
You want to sell your home but don’t want a big open house, lots of showings, you just want only the most serious buyers to come over. We can help you with:
- Ask the buyer or the buyer’s agent to really think clearly about the pros and cons, the deal-breakers and everything about the property in advance of going physically.
- Tell every buyer and buyer’s agent that the sellers have strong concerns about the Coronavirus so please use your best judgement on who comes to the property.
- Reserve the right to refuse access to the property with anyone that is suspicious of showing signs of illness.
- Recommend that instead of sending the whole family, maybe just send their Realtor or one family member.
- Electronic document signing
- Negotiate and write offers online through electronic documents
- Create a customized online marketing presence to get your house in front of the right buyers
In today’s market, we actually have way to find more buyers than we do homes to sell therefore the workload falls really on the listing agent’s ability to communicate effectively with buyers and buyers agents, but we need buyers agents to get way more specific about what their buyers want and qualifications so that we can eliminate all of that excess showing and looking at a property that isn’t really what they want. Only Concern about the potentially negative effects of coronavirus hasn’t dampened buyer enthusiasm. But still some buyers are holding out in case the virus slows things down enough to make deals more lucrative. However, these buyers are not reducing their offers or exiting the market.