As we all adjust to our new normal with people working from home, children being homeschooled, and a shelter in place order being enforced in most states, the real estate market has also adjusted to a new home selling reality.
Although the Coronavirus has ground most economic activity to a halt, it has not entirely stopped all facets of life. Within the last week, I have seen one family moving into our subdivision, while another family moved out. Life still needs to proceed forward.
I wanted to know more about how people are buying and selling houses within this new reality. I spoke with local Metro Detroit real estate expert Jillian Moutafis to understand what the new normal in the world of real estate has evolved into.
“People that had already sold their home or were in the process of doing so when COVID hit, have been relocated, or those that have leases ending, they all need a home,” Jillian emphasized to me. “Young adults that have been in their parent’s home for six weeks straight, they are ready for their own home!”
Like so many of us parents who have experienced first hand the impact of technology trying to homeschool our kids, technology has transformed the buying and selling process within the real state industry. Jillian stated that over the past six weeks, “homes were listed as usual, virtual showings replaced in-person ones, and documents/closing papers were signed electronically from the comfort of your own home. Inspectors were deemed as essential workers, so inspections continue as usual, with a few extra precautions put into place.”
Beginning May 7th in the state of MI, in-person showings can start again with a maximum of four people present during a showing. However, people may still choose to go the virtual route, especially if they are relocating from out of state.
Jillian went on to provide me with the following reasons why now may be a good time to sell your existing home or buy a new home.
Why would you want to sell now?
Why would now be a good time to buy?
Jillian indicated that with a few small adjustments, any experienced real estate agent could seamlessly guide you through the process of buying or selling. To learn more about how Jillian could help you, she can be reached at (248) 568-2396 or via email at JillianMoutafis@realestateone.com. For questions on wealth planning, portfolio management, or tax planning, you can call me directly at (248) 860-2279, email at email@example.com, or visit our site www.tammacapital.com.