We never saw 2020 coming. And who would’ve thought that in this Global pandemic we would have one of the most explosive years in real estate? We expected that the market would be really slow because the whole World was quarantined to their homes, but we saw the exact opposite happen.
Despite all the uncertainties, people were planning, buying homes, moving, and transforming their spaces into something that will give them all the comfort and warmth during these crazy times.
Buying a home is already a huge undertaking and let’s be honest it can be scary and daunting. Buying a house during a pandemic can seem risky. Why NOW is the time to buy. If you need a sign if now is the time to do it… here are the signs:
Lower rates: The market has been aggressive and competitive. Tates have been so low, below 3%, while the 15-year mortgage has held steady at under 2.5% These rates alone make it a good reason to buy now. We don’t know what rates will do in the future, so you have to take advantage of them while they are here and now!
Work from Home Lifestyle: One of the huge game-changers from last year is to see so many companies allow employees to work from home. We are very positive we will see this trend continue. This pandemic shaped homebuyer’s wants and needs. People are opting to upgrade their living spaces to homes with larger backyards, built-in pools, larger homes, space for an office, and it wouldn’t be surprising to see condos be less appealing this coming year. With that being said, in the Sacramento region we are going to continue to see Bay Area transplants move here so that they can get more for their money here!
More time to Move: Moving is a time-consuming process and if you’re hiring movers, it’s a costly one. But if you can pack and transport everything yourself, it’s far more affordable. Now might be a good time to move, since your calendar probably isn’t loaded with social or travel plans during the COVID-19 pandemic. And if you’re working remotely, you may have more flexibility in your schedule to tackle a move.
Easy Access: While everyone’s staying at home, house shopping couldn’t be easier. Checking houses on our online portal is easy. The real estate profession adjusted our way and adapted through these tough times. We now have more video and Virtual 3D House tours, eSignatures and we did it all without sacrificing the services we provide to each client.
These are the reasons why Now’s is the best time to buy. Now is certainly an interesting time to buy a home, so if you’re going to go that route, prepare to be flexible, open-hearted, and simply patient since we are in a special time. The process may not look like what it was in pre-pandemic times so make sure you choose the right Real Estate Agent that can guide you and walk you through this journey seamlessly.
If you have questions about Real Estate Market this 2021, feel free to reach out to discuss. If you enjoyed this article, you might be interested in How to Sell a Home During Covid-19.