ARE YOU READY FOR THE RUSH?
Real Estate Market (Post COVID-19).
As we approach the 3 month mark of staying safe at home, the demand on our homes has forever been altered in response to the Covid-19 pandemic; as our houses had to quickly revert to becoming our sole safe havens, in-prompt to classrooms, and digital office spaces. It has also allowed us the opportunity to gain a better understanding of what we maybe looking for in a new home, or what we need to get out of current home.
There is no doubt that the real estate market has been affected by the pandemic rocking the globe, but things are looking up, and hopefully opening up very soon.
So, what’s next for the Quinte Region and how will Covid-19 affect you and your current real estate plans?
If you are considering buying or selling over the next year, we anticipate that the traditional HOT Spring market is going to hit later this summer or early fall, so here are a few tips to consider to get ready to list or buy:
We will be adapting how we do business, and believe that you should also prepare yourself for the changes in the real estate market that are ahead.
How have we adapted?
1. Virtual showings. From high-quality photographs and videos to virtual open houses and tours, to e-documents taking virtual deals to a whole new level, we are able to continue to provide you with everything you need to buy and sell a home; while keeping the community safe.
2. Personal protective equipment. The World Health Organization recommends the use of masks to slow the transmission of viruses. All participants of private home viewings will be required to sign a disclaimer, asked to wear protective equipment and offices will provide sanitizers and plexiglass for protection.
3. Digital marketing. We are fortunate enough to have a number of resources available to us to continue to connect and promote properties virtually; from online brochures, virtual tours, social media, newsletter, blogs and more.
How should you adapt?
1. Know the market. Gone are the days we can spend our spare time browsing the isles of our favourite store and taking our time to make decisions; and the same goes for real estate transactions. Check in with us. We provide monthly market statistics on what’s happening in the Quinte Region, from sale prices, number of days on market, properties sold and more.
2. Know your homes value. With more people working and staying home, has a fully finished basement, fenced in yard or bonus home office with access to fibre internet changed the value of your home? We provide complimentary home evaluations and staging consultations to get your home positioned right and looking its best when it comes time to list.
3. Understand your finances. The government and banks have implemented a number of measures to help those affected by the pandemic. Reduced interest rates, mortgage deferrals and wage subsidies are just some of the changes that have taken place over the past 10 weeks. Be sure to speak with your Mortgage advisor about what you can afford, and what you may qualify for in todays market.
The local market has been incredibly resilient over the past few months with home sales and prices holding steady, and as we move into phase 1 and 2 of reopening our communities, we understand there will be some unknowns, but we are here to guide you through the process step by step.