I've been asked this quesiton a lot lately; "with all the uncertainty surrounding the Corona Virus, should I list my property or should I wait"?
WOW....what a great question and don't we all wish we knew for certain what the right answer might be?
Given what is happening (Shelter in place, Social Distancing Financial Uncertainty, etc.) many folks think the right thing to do is take their house off the market or not list their property until things settle down or return to some semblance of normal. It is easy for me to understand why folks feel that way and why they think it might be the best course of action. I have heard the argument that "you are adding days-on-market when folks can't even get out to tour homes". Another is " You can't hold open houses because buyer's won't be driving around looking at homes". And finally I hear, "with all the financial uncertainty, who is going to be buying a house right now".
My take on this is different. I think now is NOT the time to hold off listing your house for sale. There are folks looking to buy (I just listed a house on Friday and we have had 10 showings and 2 offers in 4 days) If you wait to list your home until things settle down, you will be one of hundreds of listings flooding the market. All the houses that were pulled off the market (and I see more of these every day) or were never listed will be flooding the market once folks start to feel things are getting back to normal. The flood of homes will for some period of time create downward pricing pressures and create much more competiion for your home due to the higher than normal level of inventory.
If your goal is to sell your home, from my perspective, LIST IT NOW! Call your agent and understand what the market value is for your home. List it and sell it before the glut of inventory hits your market in a few months.
Caveat: All markets are different. I'm working in Naples Florida & Myrtle Beach SC and this is what I see happening in those markets. Things may be different where you live and a local agent will be able to make this same assessment for you in your specific market.
Whatever you decide, GOOD LUCK!!!
About the Author
Kurt Weber
Real Estate is rapidly moving to large impersonal sales teams focused on transaction volume. Mine is a concierge philosophy, where I focus on managing a limited number of high touch, hands-on quality transactions that deliver results in a competently personalized way.
I am a long time real estate investor and retired business owner, who brings a professional business perspective and negotiating skills to every transaction.
