I've had a lot of friends ask me how this pandemic is affecting real estate - especially seeing how it's affecting the stock market. I can only speak for my market -Orange County, but I will tell you what I've seen. In classic realtor fashion, I'm going to tell you that it's still a good time to be a buyer or a seller. I will give you the pros and cons of both!
Buyer: Rates are crazy low giving you more buying power and lower payments. The inventory is low (not a lot of houses for sale) so there is definitely a lot of competition for each house, but that is something we almost always deal with in this area and I have tricks up my sleeve to make your offer competitive while protecting you and not overpaying.Seller: Inventory is low so if you put your house on the market and price it appropriately, it will sell quickly and for top dollar. Open houses are not allowed right now which is a bummer (but completely necessary!!), but people are still doing private tours with their realtors. With rates so low, it's a good time to upgrade if you want to do a sell/buy situation.How to stay safe: As a buyer, I recommend bringing hand sanitizer on tours and limiting exposure to other people - go with just your realtor. While touring, try to avoid touching any surfaces and touching your face. Apply hand sanitizer after each house. When you get home, wash your hands thoroughly. As a seller, if you're living in the house still, make sure you have disinfectant in the house and spray/wipe surfaces after each tour. If you no longer live in the house and it's vacant, don't worry too much! Rely on the buyers to keep themselves safe. Do a quick wipe down if you enter the home or have your realtor do one every time she enters the home. As always, if you have any real estate related questions or are contemplating buying/selling, please reach out to me and I'd love to help you!
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