Should I Wait to Buy a House in 2020?

Is this a good time to buy or sell or should you wait until the crisis is over? Well, that is the million dollar question and we're going to answer it right now. Hi everyone. Welcome back to my channel. I'm Jodie Cordell, the savvy agent from Spence Properties right here in Crestview, Florida. If this is your first time here, don't forget to hit the subscribe button below this video. And if you enjoy this video, please be sure to give me a thumbs up. Oh, and if you have a question about this video, be sure to drop them in the comments below. I'm a real person and I answer all of my comments personally. So should you wait until this pandemic is under control to buy or sell? Well, it may be surprising to hear, but despite all the news reports and all the tragic stories from all across the country, people are still buying and selling real estate. Here's the deal. Residential real estate was deemed as essential. And if you're not sure why, well, let me take a moment to explain. When you think of real estate, I'm sure the first thing that comes to mind might be all the glamor, and all the money, and maybe even Donald Trump. But in reality, real estate provides an essential service. People buy and sell real estate for many different reasons. Sometimes people need to sell their home to move closer to another family member, or maybe even a specialized medical facility, or maybe it's to move another family member closer to them. Or maybe you have a young mother who just lost her husband in a car accident and now she can't even afford the mortgage payments, so she has to sell her home now to make new plans to get her life back on track. Or what about an elderly couple who own a home together and one passes away, and now the surviving spouse has to sell the home that they share together and move into a nursing home? Or what about a group of siblings who lose their dad, who was the last surviving parent, and now the kids are left to sell the home that they grew up in. So real estate serves a lot of people in a lot of different ways. It is essential, first of all because it's one of the essential needs for survival; food, water, shelter, sleep and oxygen. But also, real estate is usually a family's biggest financial asset. So keeping the real estate market moving helps support the economy in general, but it also provides a means to gain assets in difficult times. Now, that's not to say that real estate has not been affected by all of this. Obviously, we're all operating under some different rules. And I believe that some of these changes may be at least somewhat semi-permanent. There's no denying that this pandemic will have lasting effects on how we all live and do business. But one thing has become clear. Buyers and sellers are far more serious than before. Gone are the tire kickers. In this current climate, the buyers and sellers may be fewer, but the ones that are out there aren't messing around. They're serious and they need to make a decision right now. You won't have buyers and sellers who have job insecurity or issues with their financial situation. Those folks are waiting on the sidelines. Buyers, this is a great thing for you. Sellers may be more flexible and more agreeable. No one wants to add stress to an already stressful situation, so deals can go through much more smoothly. Also, you may be dealing with less buyers right now, so if you've recently been in a multiple offer situation, now might a great time to jump back in with less competition. Sellers, you'll most likely have a lot less traffic inside your home, but serious buyers are still looking. If your agent is doing what I'm doing, you'll have a lot more virtual traffic instead. I recently purchased a 360 degree camera so that I could provide virtual tours for my clients to avoid unnecessary foot traffic in their homes. By weeding out the unnecessary showings agents can protect their client's health and still find a buyer for their home. The great thing is these buyers that do actually see your home are serious buyers who are looking to buy in the next 30 to 60 days. So, every showing whether in person or virtual is a potential to sell your home. Bottom line, real estate is still moving forward. I personally know buyers and sellers who don't have the luxury of waiting out this pandemic. And if you're someone who needs to move within the next couple of months and can't wait until the restrictions have been lifted, you can definitely find a home. In fact, there are people out there who are counting on you to make them an offer. It's still a seller's market right now. We still have a housing shortage, but with fewer people clouding the field, now maybe the best time to jump on the opportunities that are out there right now. I hope that clears up questions of whether or not now is a good time to buy or sell. Now, if you like this video, be sure to give me a thumbs up and drop me a comment below. If you like learning about real estate, be sure to subscribe to my channel. I put out new videos every Wednesday. If you're in the market to buy or sell, be sure to grab your free home inspection checklist I have for you. Just click the link in the description below this video. Oh, and if you like this video, be sure to check out this video right over here about how the Florida stay at home order has affected our real estate market. Thank you so much for watching. Again, my name is Jodie Cordell. I am the savvy agent and I'll see you on the next video.

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