If you were considering putting your home up for sale in time for the 2020 spring market you could be forgiven for deciding that this was just not your year. For sellers in markets across the country, the ensuing shutdowns put a damper on their plans, causing them to delay listing their homes for the foreseeable future. Now, however, the real estate market has held steady and many new listings stay on the market for just a few days or, in some cases, hours. Here are just a few of the reasons that there has really never been a better time to put your home on the market in order to take advantage of this unique opportunity.
Even before the first days of 2020 and the COVID-related shutdowns that followed, record low inventory was being anticipated in markets all over the country. In fact, for years now municipalities have been struggling with housing shortages. Tight markets have been driving up prices, making it difficult for first-time homebuyers and lower-income buyers to find a starter home. The advent of COVID put those shortages into overdrive.
In a variety of markets, low inventory has become the norm, leading to multiple offer situations and frustrated buyers willing to pay well over asking price in order to secure a home in their chosen community. This issue hasn’t been limited to the most desirable in-town luxury buildings and neighborhoods, either. As more homeowners seek larger homes and outdoor spaces to ride out COVID-enforced shutdowns, even suburban and rural markets are seeing a boost in both prices and demand.
Kitchens and bathrooms sell homes, right? These days, there’s another must-have space if you want to get your home sold: A Zoom room.
“A $4.9 million listing tucked behind San Francisco's Buena Vista Park has a lot to offer, but the "impressive Zoom Room!" gets a higher billing than the wine cellar and hot tub in the realtor's blurb,” said SFGate. “Another recent listing in Oakland suggests that a third unfinished bedroom would be "perfect for a private home office, zoom room or au-pair suite."
Homeownership is great in a lot of ways—you get your own space that you can customize as you please, you can have as many people over as you want, you can have pets without paying extra fees, you get space to fit more belongings, etc. But homeownership can also be a big burden—you are responsible for any and all necessary repairs, you have to buy tools and equipment to help with maintenance for things like the lawn, you have to pay the cost of all utilities, and so on.
Owning a home has both its pros and cons but even despite the pros, after a while, many people find themselves needing to move. Whether it be because the home is too small, it’s time for an upgrade, there’s a new job is in another location, it’s not worth the cost of maintaining, or it’s simply a good market and the right time to sell, there are a number of reasons that homeowners part ways with their houses. No matter the reason, though, many want to get the most out of it that they can, and that often means making updates and/or doing renovations to boost the value of their home before it goes on the market.
Keller Williams Realty
License Number: #01417209
Office: (760) 473-8060
6005 Hidden Valley Rd.
Brad & Maya Whaley
Whaley & Associates
Bradley Whaley CA DRE# 01369165 & Y. Maya Whaley DRE# 01393491
Keller Williams Realty, Inc., a franchise company, is an Equal Opportunity Employer and supports the Fair Housing Act. Each Keller Williams office is independently owned and operated.
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