How do you anticipate the market to change once pandemic restrictions are lifted?
Well let me get out my crystal ball! To answer your question about how I think the real estate market will change once COVID restrictions are lifted:
I believe this will continue to take time and will make transacting real estate much easier and smoother with far fewer delays caused by all of the other professionals involved in a transaction, town clerks, zoning administrators, attorneys, appraisers, banks and lending institutions, etc. I believe with the new knowledge of being able to work from home, floor plans will evolve into more defined living spaces from the open floor plan concept. I also think there will be more homes coming onto the market freeing up some inventory for the pent-up buyer demand loosening up the market. Buyers and sellers will feel more comfortable moving from place to place once again.
Interest rates are really great and I expect them to remain that way this year, making home ownership affordable in spite of rising real estate prices, due to demand and low inventory. Right now our homes are the safest, most important places in our lives and I think when COVID restrictions lift buyers and sellers will navigate the market with more ease and confidence.
I also believe our online marketing practices will continue and the brick and mortar office will be used much less and serve more as a meeting and conference space for transacting business. Remember realtors have been working remotely now for years, out of our cars and on computers and cell phones.
I’m looking forward to the face-to-face showings, closings, etc., again so we can do what we do best in helping our clients through an experienced guided transaction.
Bonnie Gridley, RE/MAX North Professionals