Buying a Home Right Now: Easy? No. Smart? Yes.

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Real Estate Agent with Coldwell Banker Realty RS-66252

 

Buying a Home Right Now: Easy? No. Smart? Yes. | MyKCM

Through all the volatility in the economy right now, some have put their search for a home on hold, yet others have not. According to ShowingTime, the real estate industry's leading showing management technology provider, buyers have started to reappear over the last several weeks. In the latest report, they revealed:

“The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. Early April data show signs of an upswing, however.”

Why would people be setting appointments to look at prospective homes when the process of purchasing a home has become more difficult with shelter-in-place orders throughout the country?

Here are three reasons for this uptick in activity:

1. Some people need to move. Whether because of a death in the family, a new birth, divorce, financial hardship, or a job transfer, some families need to make a move as quickly as possible.

2. Real estate agents across the country have become very innovative, utilizing technology that allows purchasers to virtually:

  • View homes
  • Meet with mortgage professionals
  • Consult with their agent throughout the process

All of this can happen within the required safety protocols, so real estate professionals are continuing to help families make important moves.

3. Buyers understand that mortgage rates are a key component when determining their monthly mortgage payments. Mortgage interest rates are very close to all-time lows and afford today’s purchaser the opportunity to save tens of thousands of dollars over the lifetime of the loan.

Looking closely at the third reason, we can see that there’s a big difference between purchasing a house last year and purchasing one now (see chart below):Buying a Home Right Now: Easy? No. Smart? Yes. | MyKCM

Bottom Line

Many families have decided not to postpone their plans to purchase a home, even in these difficult times. If you need to make a move, let’s connect today so you have a trusted advisor to safely and professionally guide you through the process.

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Rainmaker
3,259,313
Brian England
Vacasa - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

When someone is ready to buy a home, it is the right time to buy a home!  With interest rates as low as they are, it is crazy to think someone would rather rent than buy.

May 18, 2020 07:05 AM #1
Rainmaker
47,936
Elle Zhang, Hawaii Realtor, (808)282-8683
Coldwell Banker Realty - Honolulu, HI
Hawaii Real Estate. Sell Your Home in 72 hours!

Yes I agree Brian.  It's a right time to buy a home right now.

Jun 13, 2020 11:23 PM #2
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Rainmaker
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Elle Zhang, Hawaii Realtor, (808)282-8683

Hawaii Real Estate. Sell Your Home in 72 hours!
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