Real estate is one of the many segments of the economy that has felt the effects of COVID-19. Although there are many restrictions on what we can do right now, there are still opportunities for both buyers and sellers to stay active in the marketplace. I would encourage buyers to use this time to reach out to their agent to discuss various properties, and gather information not only from their agent, but from any information that is online as well. Many properties have virtual tours attached, which are a great way to get a good sense of a property. Aerial photographs, soil information, town data and comparable sales data is all available online, and your agent can work with you to gather these helpful tools. Depending on a seller’s situation, it might be a good time for buyers to express interest in a property, as sellers get increasingly concerned about the market and timing of their sale. Although we are restricted from showing property in person, a buyer could still drive by a property, get a sense of the area, get pre-qualified and narrow down their options.
For sellers about to enter the marketplace, unless the process was well underway, it may not be possible to list the property right now. However, they could capitalize on this time by preparing their home for sale, and discussing pricing strategy with their agent. That way they will be ready to go the minute that is possible. For sellers that are already listed, it can be a good time to update exterior photographs, and continue to make improvements to the property so that when showings start back up, things are looking good.
Taking advantage of time is what we can all do right now. Time to research, time to prepare and time to organize. We will emerge from this time with a better understanding of what is important to us, and what we take for granted. We will emerge stronger than ever!
Sarah Peluso, Broker   |  IPJ Real Estate 
34 Main Street  |  Middlebury, VT  05753
P: 802.388.4242 ext.202 |  M: 802.349.8695  |  F: 802.388.4299
Visit our website – www.ipjrealestate.com – for real estate and community information