Will I be Able to Sell my House Right Now? Why This Summer is a Good Time to Move.

July 1, 2020

You might have planned to list your home this past winter or early spring only to be sidelined by COVID-19 which brought the country to a halt. While we’re starting to come out from under the Stay-at-Home orders, it’s apparent that we’re living under a temporary “new normal” for an unforeseen time. So, when we speak with potential homebuyers, their main question is … “is now the right time to list our home and move?”

The Current Market

We say yes! Although segments of the economy are still struggling, we have identified signs from realtors, builders, buyers and sellers that the housing market continues to stay relatively strong. Interest in selling and buying homes continues to grow daily. And even though home sales declined a bit due to economic disruptions and social distancing/stay-at-home orders, home prices have stayed strong and people are still buying.

We’ve seen a great deal of interest in our Liberty Grand Villas homes and have had positive conversations with potential buyers. Current mortgage rates are low and continue to show that they will remain low for the foreseeable future.

Cincinnati Area Making a Comeback

Per Kelly Meyer, President of the Cincinnati Area Board of Realtors, “April Home sales did better than expected under the current COVID restrictions. Let’s not sugar-coat this … The next few months will continue to be challenging for everyone, but this too will pass, and real estate will be strong. Our moderate weather, low interest and mortgage rates, reasonable prices and a constantly rotating inventory keeps Cincinnati amongst the most affordable places nationwide to live,” said Meyer. “Even during these trying times, there are still plenty of buyers in the market looking to purchase their dream home.” More here.

Cincinnati trends showed in early June that homes in the various communities were on the market an average of 38-127 days. In addition, a recent report from Realtor.com predicts sales will rebound this summer and possibly flatten out again later in the fall. It is expected to ebb and flow, so assessing how your community is faring in the housing market could play a part in your decision when to list your home.

Motivated Buyers

Another reason to list your home revolves around the mindset of current buyers. Most people have been at home for several months and some now realize that their home just isn’t working for them. If you fall into this category and are ready to move on to something different, could your home be the right fit for someone else?

Reasons why a home may no longer work for its owner:

  • Overly big – too much space
  • Extremely small – not enough space
  • Isolation from others and amenities
  • Located in an area that’s too dense
  • School district is not ideal
  • Job change requires a move
  • Currently not in a family friendly neighborhood
  • Family is growing
  • Children have moved out and empty nesters remain

How to Safely Sell Your Home and Purchase a New Home

We understand you may be uncomfortable selling your current home and buying a new one right now. Although from what we have read and the conversations we have had with our clients, realtors and community experts, we believe home selling and buying has pivoted and adapted to these challenging times.

  • Are they utilizing virtual showings through Facetime, Zoom, or other platforms?
  • Do they offer 3D tours or have drone footage?
  • Do they offer private showings by focusing on;
    1) going into the home early, turning on lights and opening all doors?
    2) asking potential buyers to limit any touching of surfaces?
    3) wiping down all surfaces before and after the showing?
  • Are they bringing booties, masks and gloves to the showings?
  • Do they offer remote closing, drive-through title signings, or any other safety measures you need to feel safe?

Just like in building our homes, the details really matter. At Liberty Grand Villas, our realtors are prepared to ensure your safety. They are sanitizing all surfaces, maintaining social distancing, wearing masks and offering masks to all visitors if needed and providing hand sanitizing stations.

So, is this the Right Time for You to Move?

If you have been thinking about selling and buying, this summer could be a great time to research where you would like to live next and list your home. Consider Liberty Grand Villas where we are building luxury ranch-style condos featuring single floor living, no exterior maintenance, friendly neighbors, the best community, and carefree living. Only a few remaining condos are available, so why wait? Buy a new, right sized home here.