Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

By
Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209

Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

 

According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers are actively reappearing in the market. In the latest report, they reported,

 


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

Buying a home in spring 2020

 

Why are buyers setting appointments to tour prospective homes when the process of purchasing a home has become more difficult with shelter-in-place or modified stay-at-home orders throughout the country? 

 

Three reasons for this uptick in activity are as follows:

1. Some people simply need to move. Whether because of a change in familial status, a new birth, divorce, financial hardship, or a job transfer, some families need to make a move as quickly as possible.

 

 

How to use technology in 2020

 

2. We have found that utilizing technology allows buyers 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. Mortgage rates are near all-time lows right now. Rates are a key component when determining 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.

Honing in on those incredibly low interest rates we have now, you can see that there is a big difference between purchasing a house in December (2019) and purchasing one now (see chart):

Home buyer savings 2020


 

 

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.

 


 

 

*Thank you to KCM for providing above graphics.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

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Re-Blogged 1 time:

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  1. Ginger Harper 05/17/2020 01:25 PM
Topic:
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Location:
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Charlotte North Carolina Area
Buyer Information - What Buyers Need to Know in Today's Market
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Rainmaker
3,340,102
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Smart moves are never easy, great post Debe, hope buyers are reading and taking your advice, Endre

May 10, 2020 11:18 PM #1
Rainmaker
3,157,864
James Dray
Fathom Realty - Bentonville, AR
Exceptional Agents, Outstanding Results

Morning Debe.

Inventory is down right now.  We desperately need homes that are 200K or less.  Buyers are waiting in line

May 11, 2020 12:55 AM #2
Rainmaker
3,554,539
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Debe. Real estate is a very local thing. In the vast majority of local enclaves now may be the time to pursue a purchase. Enjoy your day!

May 11, 2020 04:57 AM #3
Rainmaker
3,617,460
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Hello Debe - not only is real estate "local" is also  a personal decision based on the needs and desires of people.  So, yes indications can be found that making a move right now this is not only right but smart.  

May 11, 2020 05:55 AM #4
Rainmaker
5,328,091
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Debe Maxwell, CRS in Massachusetts, the Governor classified us as essential workers....we show property and list them....we've been busy with buyers ..... some listings are coming back on from the point of the initial panic of Covid-19.... but not all will come on yet.... 

May 11, 2020 06:07 AM #5
Rainmaker
569,536
marti garaughty
garaughty.com - Montreal, QC
a highly caffeinated creative type...

 

 

May 11, 2020 06:16 AM #6
Rainmaker
2,134,929
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Hi Debe Maxwell, CRS - our agents in Westchester think there will be lots of interested buyers as people flee the city for more room.

May 11, 2020 08:22 AM #7
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debe the COVID-19 virus has created a few obstacles to the process of purchasing a home, but the benefits of home ownership FAR out weigh the challenges.

May 11, 2020 10:06 AM #8
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Debe also I meant to stop by yesterday to wish you a very special Mother's Day!!!

May 11, 2020 10:07 AM #9
Rainmaker
1,366,784
Sheri Sperry - MCNE®
Coldwell Banker Realty - Sedona, AZ
(928) 274-7355 ~ YOUR Solutions REALTOR®

Hi Debe Maxwell, CRS - It has been rare that I have found any closing to go without at least a bump or two. But it takes a professional like you to smooth out the road for each client. 

May 11, 2020 11:44 AM #10
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thank you, Endre Barath, Jr. and no, smart moves are not always easy but, now is definitely the time to make one! 

May 11, 2020 04:20 PM #11
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Same here, James Dray! I have buyers right now in the under $300 range and those are a real challenge to find.

May 11, 2020 04:21 PM #12
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thank you, Wayne Martin! I have one client looking in the $300K range - multiple Offers are commonplace in a large number of the neighborhoods but, one particular area has a DOM of 3 times that of the others. Obviously, multiple Offers are not a concern there!

May 11, 2020 04:23 PM #13
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Agreed, Michael Jacobs and if you're smart, you'll see to it you put yourself in that 'right' place too!

May 11, 2020 04:27 PM #14
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

We're seeing that now too, Barbara Todaro. I'm ready for real estate to open back up - full-speed ahead!

May 11, 2020 04:30 PM #15
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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Thank you so much, marti garaughty! I hope you're doing well and had a great Monday and have a wonderful week ahead.

May 11, 2020 04:42 PM #16
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Margaret Rome Baltimore 410-530-2400
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Debe Maxwell, CRS Buyers are not waiting and for some of us...it is a busy time. 

May 11, 2020 07:05 PM #17
Rainmaker
834,929
Mike Bjork
Pinnacle Home Loan - Redondo Beach, CA

We've seen the continued interest in homebuying in my area.  I've seen buyers bid above list on home between $850k to $1.1 million over the past month or two.  It doesn't seem to have missed much of a beat due to the pandemic.  However, I think some smaller, rural areas may be more affected by it.  I've heard that there could be a migration of urban dwellers moving toward the more rural areas, so that may be an something to watch.  Great post, Debe!  Enojoyable to read!

May 12, 2020 10:38 AM #18
Rainmaker
141,893
Lanette Branch
RE/MAX Components - Fallston, MD
Bel Air, MD Real Estate Agent

This is a great post, Debe Maxwell, CRS. Just proves that ole saying - buyers gonna buy.

May 12, 2020 09:58 PM #19
Rainmaker
3,402,473
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Debe,  Great post and hope more people would be buying now.  I jst got the word this morning from one of my buyers they are going to wait till September as if wife company is closing down.

 

May 14, 2020 11:59 AM #20
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