Meet with your trusted real estate agent: Your agent can save you a lot of time and energy by guiding you through the pre-listing phase. They are there to serve you and help you decide if listing your home is the right option. Pre-qualify to buy your new home: Get pre-qualified to buy your next home before putting your current one on the market. Working with a reputable mortgage professional will help you understand what you need to net from your current home and achieve your goals for your next one. Price correctly: Listing your home at the proper market value is critical to selling your home within a reasonable time frame. Be cautious of making decisions based on valuations online and instead use your agent’s in-depth knowledge of the local area as a resource. Pre-inspection: Home inspections are often a sticking point where a home sale can go wrong. Material defects may need to be repaired prior to a buyer purchasing the home, so determine these potent...
Traditionally, spring is one of the busiest times of the year for real estate. However, the coronavirus outbreak—and subsequent stay-at-home orders—led many buyers and sellers to put their moving plans on hold. In April, new listings fell nearly 45%, and sales volume fell 15% compared to last year. 1 Fortunately, as restrictions have eased, we’ve seen an uptick in market activity. And economists at Realtor.com expect a rebound in July, August, and September, as fears about the pandemic subside, and buyers return to the market with pent-up demand from a lost spring season. 2 But given safety concerns and the current economic climate, is it prudent to jump back into the real estate market? Before you decide, it’s important to consider where the housing market is headed, how it could impact your timeline and ability to buy a home, and your own individual needs and circumstances. WHAT’S AHEAD FOR THE HOUSING MARKET? The economic aftermath of the coronavirus outbrea...