Covid-19 has brought uncertain times to the whole world. New regulations and rules have been put in place, and it is easy to get caught up in the mixup of what is true and what isn’t.
When it comes to real estate, there are some myths that people have marked in their brains, that need to get debunked.
So, here is a reality check.
Myth 1: It is a bad time to sell a home– Wrong! Although it is reasonable to believe that because such unsettling times it is a bad time to put your house on the market, the truth is actually contrary.
“Given the pandemic and uncertainty it’s caused, the general sentiment [among some owners] is that now is not a good time to sell your home,” says Danielle Hale, realtor.com’s chief economist. “Yet so far, the data suggests the opposite – that buyers outnumber sellers in the housing market, which means it’s better to be a seller than a buyer.”
Offers will increase, creating a good cushion for sellers to take action.
Myth 2: Homes can not be viewed in person- Social distancing and safety regulations like the stay-at-home orders are the number one priority. But, many restrictions are being lifted, allowing buyers and sellers to make appointments to see properties. Realtors are taking extra precautions to ensure it is safe to see homes in person, such as always wearing the mask. And of course, there are always the virtual home tours.
Myth 3: Home prices will drop-
An article written by FloridaRealtors indicated the opposite. They stated that “We’re seeing home prices (currently) grow faster than pre-COVID-19.”
Because or low mortgage rates and lack of supply, prices can actually increase.
Three coronavirus and real estate related myths- BUSTED!
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