Going to Sell? Act Now!
Despite the Covid 19 virus, homes are selling, especially those under $800,000. In the past week, we have seen a home receive 21 offers, and another receive 12. In each case, there were great reasons for the demand due to the scarcity of the specific type of home, but the point is, buyers have time to surf the web and they are shopping.
Many sellers have wisely held off on listing their homes due to the virus, further reducing the supply of homes available. When you combine that with low interest rates, the existing pent up demand, and buyers with time to shop online, we are seeing many homes sell quickly. On the other hand, the higher end homes are moving slower, as those buyers are strongly impacted by the stock market and anxiety about the future of the economy. It is a strange time.
It is our prediction that we will see a surge of new inventory once the “stay at home” orders have been lifted and businesses begin to open. This will be great for buyers, and while we all hope to see the economy hang in there, it will not be surprising if sales slow once buyers can see there is product available. Like toilet paper, homes are scarce right now, and many buyers are quick to tie up a property.
Remarkably, our industry has rapidly increased our virtual sales efforts and has adopted new showing practices to be respectful of social distancing. We are fortunate, thanks to Governor Brown, to be considered an essential business and thanks to technology, such as Zoom and Facetime, we can conduct most of our business virtually. As real estate practitioners, while the new normal works, we surely miss the personal touch and yearn to get back to our face to face relationship-based service.
At ELEETE, we are small enough to be nimble and have acted swiftly. Every listing at ELEETE now has its’ own website and domain name that is the address of the home (for example, 333SWELM.com). This new format provides each of our properties with its’ own unique platform to provide full access to everything a buyer would ever want to learn about your home: photos, maps, specs, brochures, video, HOA documents, etc. It is our goal to ensure that every buyer is fully informed before we schedule a showing appointment. Call your ELEETE Broker today to learn more.