Spring 2020 Real Estate Market: How it helps you!

chris.ha • April 24, 2020

Obviously when there is a pandemic occurring that has shut down millions of businesses, laid off millions of Americans, and ultimately defined the turn of our economy, it may seem like the worst time to be moving around or risking any finances. Believe it or not, the Spring 2020 real estate market is your window of opportunity! Now, this window will work perfectly for some people and not at all for others, so the important part is to identify whether this is a good time for you or not! Speak to your Brown Home Group agent for advice on what to do.


Buyers


For those who have considered buying a home or were in the process in the past 3 months, now is not the time to give up! We highly recommend you speak with your lender to see what options you have and what changes have been made in the mortgage industry. Considering many Americans are losing their jobs or getting reduced paychecks, most banks and lenders are increasing their requirements to ensure that we avoid having another 2008-like recession. This includes income standards, credit score, employment type, etc. The banks may be making it harder for people to get mortgages, however, those who qualify will still get amazing rates and be able to take advantage of certain programs.


On top of being able to achieve good mortgage rates, buyer’s will have less competition when shopping for homes. As a highly qualified buyer, you will qualify for more, get better rates, and have a stronger chance in the case of a multiple offer situation. Keep this in mind if you want to wait until everything is back to normal, because by that time the market will be flooded with buyers competing to snag a home.


Sellers


As for home owners who have considered selling, this time of uncertainty might just be your opportunity to cash in on your investment! Since late last year, we’ve seen the Orlando Real Estate Market struggle with inventory. Buyers are at the mercy of the sellers because there are thousands of buyers looking in the city, and no where near the same amount of housing available. One thing we’ve seen since January, is the average sale price of homes go UP and the days on market have gone DOWN. This idea of the market getting even better is insane, but these are the facts.


If selling your home has been on your mind in the last year, we encourage you to seek consulting from your Brown Home Group agent. We want to help you get the most money for your house and guide you to your next destination without you lifting a finger.


With the current state of the market, we’re confident that homes will sell in a matter of 30 days or less, considering the abundance of buyers in the market. Homes are selling at an average of 98% of the listing price, which is a rise we’ve seen over the past few years, meaning you can more than likely getting exactly what you want and need from the sale of your home to allow you & your family to move on to a new chapter.


Conclusion


We understand the fear surrounding the current state of the world and the economy, but as of now, there is still a massive benefit for both buyers and sellers in the real estate market. Now is the time to take the first step by reaching out to the Brown Home Group at 321-348-8720.


Written By:


Blaine Wyker


Brown Home Group @ Keller Williams Advantage II Realty

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