Though the current situation of the pandemic seems discouraging, it is still a good time to sell your house. While this is a time of uncertainties, the reality of housing market has not changed. If you are moving to new city or upgrading to a bigger property, this is still the right time for you to sell. Actually, the current situation might even work in your favor.
Here are some of the reason that you should sell your house now:
Shortage of properties
Many people are scared to sell their properties right now and have actually pulled them off the market. This means that there is actually shortage of properties right now. This combined with the fact that there is limited new construction happening right now, represents that its is a seller’s market. If you sell right now you can get many advantages. People selling right now can attract more buyers and this can drive up your property prices as well. Do not be scared of all the uncertainties and put your house on the market as soon as possible.
The market is not crowded
Usually every year the right time to sell your house is in spring before the summer when the market is crowded. This year however, due the coronavirus pandemic the situation has changed. As people are not putting their houses on the market due to fear of the showing their house to potentially sick buyers, very few people are selling.
Interest rates are low
Right now, there are strong buyers in the market as the interest rates are low. The Federal Reserve has lowered the interest rates so low to keep the economy going strong. This means that there are a greater number of buyers in the market. People can easily get financing and mortgages to buy properties. More buyers will money to spend means that you can easily sell your house even in this pandemic. If you are considering selling your house, this might be the best time.
Real estate agents can be more helpful
Though this reason does seem a bit sad, but it is true that the pandemic has hit many markets. It is also true for the housing market. With business down, the real estate agents have more time at their hands and can give your property more attention. They will work harder to sell your house and at price they possibly can find.
Virtual tours make it easier to sell
This is the first time that the housing industry has moved its business almost completely online. People are now showing houses online and giving virtual tours. With many people searching for houses online, they also end up buying houses without ever setting their foot in. Even though the pandemic has stopped open houses, but virtual tours are here to rescue you. Virtual tours also ensure that a large number of people can visit your property at the same time. As people are stuck in their houses they are looking to buy, and you have their attention. Make sure to use that attention the right way and sell your house on your own terms.