Real Estate in the Age of Covid-19
For those determined to buy a home, there is an incredible opportunity out there right now. Many experts have stated that this is the best buyer’s market they have ever seen. One reason is there are fewer buyers out there giving those who are taking advantage of this opportunity far less competition. But this opportunity won’t last forever. Once the quarantine is lifted, real estate professions believe it will be followed by a strong rebound, and the pent-up demand could push home prices even higher. So, the time to strike is now!
Here in the North Bay Counties, like Sonoma and Napa, last quarter saw little to no impact from our new way of conducting business. Going forward with new tools in our digital pocket, it looks like there will continue to be some positive movement or at least a leveling out in the market. While sheltering-in-place has made it more difficult, there are still opportunities for real estate investments that make sense.
What are the reasons keeping you from looking for a solution to owning a desirable home – or a more desirable home if the current one isn’t perfect for you? Fear of not staying safe while searching for that new home is primary for most shoppers. Not to worry. Today’s real estate agents have many new technologies that allow them to conduct business in a safer way than ever before. Buyers and sellers are conducting virtual meetings, and open house tours are being filmed and shown online. Agents can send clients videos of whatever properties they want to see. Even closings can be handled with little or no human contact.
The other looming issue making buyers living here in Sonoma County and other North Bay counties uncomfortable, is the ability to continue paying the mortgage after this pandemic. That is why it is so important to get pre-approved for a mortgage and to calculate your home-buying budget. This is the time to crunch the numbers more carefully than ever.
The self-distancing phenomenon we are experiencing does not need to curtail your journey toward financial freedom through real estate investments. Real estate is certainly more stable than most other investments right now.
If you want to take advantage of this unprecedented time to find a new home or invest in a rental property but cannot qualify for a conventional loan, there is still hope. Sun Pacific Mortgage specializes in loans for just such circumstances, so no one who wishes to own property is excluded from this avenue of financial independence. Reach out to us via our website at www.Sunpacificmortgage.com or give us a call at 707-523-2099 to discuss your possibilities.