While it’s still possible to sell a home, as Real Estate is classified as an essential business, coronavirus concerns may be causing you to wait a while. During this wait time there are still steps you can take now so you’re ready to sell when the time feels right. This is what you can do now to prepare to sell your home.
How much flexibility do you have? Do you want to wait out the coronavirus? Buying or selling a home is possible with all the new ‘social distancing’ resources that we have available and we are happy to discuss your options.
PREP YOUR HOME FOR SALE
Interior painting, basic landscaping or other touch-ups you can probably handle yourself and you may want to take this time to start tackling them. More extensive work may have to wait but you can seek out referrals and phone contractors for estimates. Contact us if you need help finding contractors.
STAY AWARE OF THE MARKET
Predictions are extremely varied, even amongst neighboring counties the forecasts can vastly different. For the 12-month period spanning May 2019 through April 2020, Pending Sales in the San Diego area were down 1.2 percent overall. The price range with the largest gain in sales was the $1,250,001 to $2,000,000 range, where they increased 7.3 percent. However, the overall Median Sales Price was up 3.3 percent to $590,000.
The property type with the largest price gain was the Single-Family Homes segment, where prices increased 3.7 percent. The price range that tended to sell the quickest was the $250,001 to $500,000 range at 26 days; the price range that tended to sell the slowest was the $5,000,001 and above range at 114 days.
We can’t know for sure how the current economic uncertainty will affect home sales and values in the coming months — but people continue to buy and sell homes.
YOUR HOME VALUE
We can provide you with comparable home sale information in your area and advise you on a pricing strategy that takes advantage of all the current market information. We can ‘meet’ over FaceTime or Zoom and begin to plan together.