COVID-19 has turned the world upside down in many ways, and you may be wondering if it’s still a good idea to buy a home during this season. Some who have been saving and planning for their exciting home purchase may be concerned that their dreams for homeownership might be delayed.
However, life continues despite the current pandemic, and real estate is no different. In fact, in southern New Mexico the real estate market is booming! With near historic mortgage rates, 2020 can be your year to make your dream of homeownership a reality.
Here’s what you can expect when purchasing a home during COVID-19.
Even though life looks different now, people still need to buy and sell homes for a variety of reasons. The real estate industry is considered an essential business in our state’s orders, so we continue to help our customers safely navigate the home buying process. Home inspectors, county officials, and home appraisers are all still working.
Staying organized will help the process go more smoothly and quickly. Buyers that were prequalified before the pandemic may need to get requalified, so we recommend contacting your lender.
You may have lost your eligibility status without even knowing it, so check with your lender as soon as possible. It’s important to do this sooner rather than later, since the number of homes for sale are at all time lows. This means the market is more competitive, and sellers are looking for the most qualified buyers for their home.
Also, more steps of the buying process are moving online, so make sure you can scan documents, electronically sign, and even meet through technology (Zoom, FaceTime, etc.).
Prepare for showings
At Better Homes and Gardens Real Estate – Steinborn and Associates, we’ve put guidelines in place to help everyone stay safe and healthy. Our current policy for home showings prioritize both the buyer’s and the seller’s health first, so things may look a little different than you’re used to.
Open house procedures are set at the seller’s discretion. Open houses are still very popular right now, so we are limiting the showings to one related group at a time so that homes don’t get filled with people. We’re also limiting the number of guests you can bring to home showings and meetings to ensure physical distancing requirements.
When looking at a home, you may be asked to wear a mask, gloves, or booties. The homeowners may also ask you to use hand sanitizer upon entering the home. As buyers, it’s best to let the REALTOR open cabinets, drawers, and doors.
Your REALTOR will give you all of the information you need before you schedule a home showing, so if you have any questions or concerns about health and safety, don’t hesitate to reach out.
Don’t wait to buy or sell
Some may wonder if real estate is slowing down during this season, but that couldn’t be further from the truth. If you’re ready to buy a home, don’t wait to schedule a showing. The market is currently in a supply shortage, so more buyers are looking for homes than there are available. Be prepared to act fast and make quick decisions in order to secure a home you love.
If you’re looking to sell your home, don’t wait to put it on the market. Depending on the home’s price, there is a demand that creates a great opportunity to sell.
Take the next step today
One thing that this season has taught us is the value of home. Home is where we stay anchored in the storms of life, so if you’re ready to take the next step and find your forever home, contact us today.
Our skilled and professional REALTORs will take every precaution necessary to help you stay healthy and find the perfect home for you. You can view our extensive home listings or call us at 1-800-234-3698 today.