RealtimeCampaign.com Discusses We Buy Houses Virginia: Preparing for the Post-Pandemic Real Estate Market

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RealtimeCampaign.com Discusses We Buy Houses Virginia: Preparing for the Post-Pandemic Real Estate Market

June 17
22:49 2020
RealtimeCampaign.com Discusses We Buy Houses Virginia: Preparing for the Post-Pandemic Real Estate Market

Selling a house can be an intimidating experience, to say the least. So many variables are in play that even experienced sellers find the process a bit confusing at times. Of course, the coronavirus pandemic didn’t help simplify matters at all. Real estate experts are saying the industry may never be the same even after the pandemic loosens its grip on the planet. Knowing what to expect and how to be prepared for all the possibilities can go a long way toward easing the stress of selling your home during these uncertain times.

Main Factors Affecting the Housing Market

As noted in the recent write-up, ‘It’s A Strange Time To Get A Mortgage’: Buying, Selling A Home During The Pandemic, real estate sales have plummeted in the wake of the coronavirus and its resulting nationwide shutdown. Though the exact figures vary by location and portion of the housing market, the effect is universal. Some areas have seen drops of 20 percent in new contracts whereas others report downturns of more than 70 percent.

Several issues factor into the equation. One major problem is the widespread job loss brought on by COVID-19. Many of those who could afford to purchase a home earlier this year are now experiencing financial hardships. Even the ones who can still technically cover monthly mortgage payments are pulling out of the market for fear of the future according to realtimecampaign.com and many other authoritative sources.

Mortgage lenders are equally hesitant in light of the circumstances. They’re becoming more stringent with their eligibility requirements, such as demanding that buyers provide larger down payments. It seems 20 percent is now mandatory for most lenders rather than a simple suggestion. In many cases, they’re only offering mortgage loans to prospects with credit scores of 700 or better as well.

At the same time, the new methods of viewing and purchasing homes solely online don’t quite sit well with a number of buyers. Pictures may be worth a thousand words, but they typically don’t do their subjects justice. With an investment as significant as a house and its surrounding property, people want to actually see and feel what they’re buying. These are only a few of the factors negatively impacting the real estate market, and you’re sure to find a knockout post or two explaining the situation in greater detail.

Facing the New Real Estate Market Head-on

If you’re planning to sell a home in the near future, it’s important to keep a few points in mind. First of all, it’s important to protect yourself and potential buyers from every angle. If the home is in an area that actually allows in-person viewings at present, don’t be shy about requiring visitors to wear masks, gloves, and shoe covers. Make sure they don’t take off their personal protective equipment until they’re outside. You may even want to have viewers sign a “hold harmless” agreement stating they won’t hold you responsible if they contract the coronavirus after visiting the home.

Because of the ongoing job loss and related financial hurdles, many sellers are requiring proof of prospects’ ability to pay for a home. Some feel this is a bit of an overkill, but these trying times require a little extra invasiveness. At the same time, be sure to have a plan in place in case the house doesn’t sell, such as renting it out or seeking a cash deal like those available through House Buyers of America.

No one is sure of how the pandemic will affect the real estate market moving forward or how long its effects will continue to take a toll on the world. Many experts have their theories, but the impacts of a situation of this magnitude are difficult to predict. After all, nothing like this has happened in America for a century, and things were much different the last time around.

Selling a house isn’t the same as it once was. Buyers are withdrawing offers or backing out of the market altogether while sellers and real estate agents are struggling to spread the word about their listings. All the restrictions now in place from virtually every angle complicate matters even further. Still, knowing the facts and protecting yourself from the possibilities can make all the difference.

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Company Name: Realtimecampaign.com
Contact Person: Rose Mary
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Phone: 407-875-1833
Country: United States
Website: Realtimecampaign.com

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