Considering a sell? There may be great uncertainty with a decision like this during this time, and I'm here to help. Sellers may see longer days on the market (DOM) times while we remain in a statewide quarantine because it's not as easy for agents to show your property to potential buyers. At this time, agents are also not allowed to hold in person open houses. However, there are many options to still list your property and get it sold. Virtual open houses are the way to go in this new normal. Either the seller or seller's agent will video the interior features of the property for sale and then post the content on the MLS and Social Media outlets, and/ or eblast the footage to buyer's agents and their clients. This assures both seller and buyer they are not potentially being exposed to any aspects of the coronavirus. This action is temporal and hopefully will be removed soon.
The other new temporary normal comes with the property inspection. Currently, inspectors may not physically inspect a property. This may or may not work in a seller's favor. Each escrow will be drastically different when it comes to this. The how to inspect details are still in the works on this, so you’ll need to check back here for an update on how this is being conducted for now.
Another question may be whether or not property values are going to drop as a result of the Coronavirus Pandemic. The honest answer is simply, I, like anyone else, can't say for sure. What we are able to project is that prices will likely hold steady. A large indicator of this is the fact that business has continued to move forward during the pandemic. There have been many adjustments to the way business is done, but the show has continued to go on. There has been a ton of money injected into the market and seller profits won't easily be let go.