The Only Major Industry to Display Immunity to COVID

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Services for Real Estate Pros with 206 715 1642 RealEstateAgent | Notary

The #1 Reason Not to Wait to List Your House for Sale

The #1 Reason Not to Wait to List Your House for Sale | MyKCM

Many industries have been devastated by the economic shutdown caused by the COVID-19 virus. Real estate is not one of them.

Mark Fleming, Chief Economist for First American, just reported“Since hitting a low point during the initial stages of the pandemic, the only major industry to display immunity to the economic impacts of the coronavirus is the housing market. Housing has experienced a strong V-shaped recovery and is now exceeding pre-pandemic levels.”

Buyer demand is still strong heading into the fall. ShowingTime, which tracks the average number of buyer showings on residential properties, just announced that buyer showings are up 61.9% compared to the same time last year. They went on to say: “Normally, real estate activity begins to slow down in the late summer, but this year it peaked in July, August and into September.”

There Is One Big Challenge

Purchaser demand is so high, the market is running out of available homes for sale. Just last week, realtor.com reported“Since the beginning of the COVID pandemic in March, nearly 400,000 fewer homes have been listed compared to last year, leaving a gaping hole in the U.S. housing inventory.”

Homebuilders are increasing construction, but they cannot keep up with the high demand. Bill McBride, founder of the Calculated Risk blog, in discussing inventory of newly constructed houses, notes:“The months of supply decreased to 3.3 months...This is the all-time record low months of supply.”

What does this mean for sellers?Anyone thinking of putting their home on the market should not wait. A seller will always negotiate the best deal when demand is high and supply is limited. That’s exactly the situation in the real estate market today.

Next year, when the pandemic is hopefully behind us, there will be many more properties coming to the market. Don’t wait for that increase in competition in your neighborhood. Now is the time to sell.

Posted by

SEESAN, a Licensed Real Estate Agent, Commissioned Mobile Notary specializing in Trust/Estate Planning Signings and Reverse Mortgage Loan Signings for seniors. He uses his expertise, knowledge, and experience to help numerous seniors to maintain their security, independance, and dignity. He is a blogger, a seniors advocate and has many years experience in mortgage loan servicing and real estate industries and has  an MBA in business management. He loves what he does and receives much joy with the services  he provides and benefits seniors and their families receive from them. His services also help reverse mortgage lenders to improve the customer experience by offering excellent signing services. He understands the intricacies of a reverse mortgage transaction, the process, and the documents. He will be your trusted partner to build a signing experience customized for lenders' customers.

One of the primary reasons that lenders for utilizing him  is to provide a convenience to the borrower.  He  makes it possible for the borrower to sign their loan documents wherever it is most convenient for them.  This can be practically anywhere, but it is usually in the comfort of their own home.  This is especially beneficial for Reverse Mortgage borrowers. He  prints the documents, takes them to the borrower, gets the required signatures, then promptly delivers the loan documents.  He takes care of everything for the borrower as well as the lenders. And when he's not covering the reverse mortgage industry, SEESAN enjoys politics, news, movies, comics, soccer games and life with his wife.

He can be reached at seesan2002@gmail.com | cell 206 715 1642 |
HisProfiles: SeesanRealestate  | SeesanMobileNotary

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Disclaimer The materials presented in this article and blog are for informational purposes and are not intended and should not be considered legal or financial advice or a legal opinion on any specific fact or question. There is no attorney-client or other professional-client relationship between the author to this article and the readers or users. The material is as complete and up-to-date as possible as of the date of publication, but the reader should always reconfirm the information with the relevant government agency or consult with an appropriate professional or private attorney or, if unable to afford an attorney, seek free legal or other type of advice.




Comments (2)

Realtyna Inc
Realtyna - Newark, DE
Realtyna- MLS RETS Integration software & services

Hi Seesan, good blog. I think you've hit a home run describing the market strengths and challenges.

Oct 15, 2020 02:18 AM
Wayne Posey, Broker on Florida's Space Coast
Posey & Co., REALTORS - Rockledge, FL
"Nobody knows the Space Coast like a Native"

Great article Seesan,

Well done, short, and accurate and I love the honest call to action advice for Sellers: "Don’t wait for that increase in competition in your neighborhood. Now is the time to sell."

Oct 15, 2020 10:58 AM