If you are thinking about marketing your home right now, you no doubt have questions and concerns. Can the process be handled safely? Are there qualified buyers, who will be interested in my property? Can I get a fair price?
Obviously, the market here on Cape Cod — and elsewhere — is not as active as it was before the quarantine began. (We have some stats about strong March sales in the next section.) But, potential buyers continue to check out listings on our website. Homes are still being listed and sold.
A few weeks ago, Mari had a virtual listing appointment with a young family. Using Face Time, they gave her a tour of their home. We sent them a CMA; agreed on a price and handled all the paperwork electronically. They sent us pictures of their house that we used for the MLS posting. We also made a short promotional video that we posted on our various social media platforms. It’s archived, along with many of our other videos, on our YouTube channel.
The listing went live this past Friday and yesterday (Sunday) we had three showings. Before leaving the house, the family left lights on, doors open, etc.. For the showings, everyone wore masks and booties and did the best they could not to touch anything. When each group left, Mari went through the house and wiped down anything that might have been touched.
BTW…this was the first time we had actually been in the home!
So far we’ve already received two offers and we have another showing today. (Monday) Every potential buyer needs to purchase a home.
If agreement can reached, a Purchase and Sales will be signed electronically. Home Inspectors are still working using safety precautions. However, since some Fire Departments are not currently conducting smoke inspections, allowances are being made to insure future reviews. The closing can be handled at a safe distance using power of attorney or signing papers in the car to avoid going into an office.
We also took advantage of yesterday’s showings for our photographer to get the images he needs to create a virtual home tour using Matterport technology. This is a great tool to use right now. But, it can also be effective in the future for potential buyers, who are interested in a property, but because of distance or other reasons can’t immediately tour the home.
As always, if you’d like to talk about your current options, we’d be happy to meet with you via Zoom, Face Time or conference call. We can share with you the Matterport virtual tour and to discuss how it could be a viable tool in marketing your home.
Please contact us at 508-568-8191 or firstname.lastname@example.org. Thanks…
Spoiler alert! We’ll be seeing headlines next month reporting that home sales for April were down. Many of the talking heads and “experts” will be predicting the worst for the housing market in the months ahead.
But, it’s important to remember where we were before the Corona crisis hit.
According to data from the Cape Cod & Islands Association of REALTORS® (CCIAOR), 400 homes sold in March, 326 single-family homes and 74 condominiums. Median sales price was $441,250 for single-family homes and $306,000 for condominiums. Last March, 359 homes (294 single-family homes and 65 condos) sold at a median price of $421,500 for single-family homes and $255,000 for condominiums.
Our clients bought and sold $2.6 million in property during the first quarter of year and we were expecting an equally strong second quarter.
We continue to talk to buyers and sellers. Many have pumped the breaks on their plans for the short term. But, most fully intend to put the pedal to the metal when the situation changes.
As we talked about above, there continue to be people, who need to buy and/or sell right now because of job, family or other personal reasons.
Remember: an economic slowdown doesn’t mean a housing crisis.
Our continued thanks for all the front line workers, who are responding to the crisis. We appreciate the sacrifices that you and your families are making for all of us.
Expressions of thanks are popping up all around thanking our everyday heroes for what they’re doing. This sign across the street from our house. (Great job, AJ!)
Stay healthy; stay optimistic
Mari and Hank