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Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

 

According to ShowingTime, the real estate industry’s leading showing management technology provider, buyers are actively reappearing in the market. In the latest report, they reported,

 


“The March ShowingTime Showing Index® recorded the first nationwide drop in showing traffic in eight months as communities responded to COVID-19. April data showed signs of an upswing, however.”

Buying a home in spring 2020

 

Why are buyers setting appointments to tour prospective homes when the process of purchasing a home has become more difficult with shelter-in-place or modified stay-at-home orders throughout the country? 

 

Three reasons for this uptick in activity are as follows:

1. Some people simply need to move. Whether because of a change in familial status, a new birth, divorce, financial hardship, or a job transfer, some families need to make a move as quickly as possible.

 

 

How to use technology in 2020

 

2. We have found that utilizing technology allows buyers to virtually:

•View homes

•Meet with mortgage professionals

•Consult with their agent throughout the process


All of this can happen within the required safety protocols, so real estate professionals are continuing to help families make important moves.

 

3. Mortgage rates are near all-time lows right now. Rates are a key component when determining monthly mortgage payments. Mortgage interest rates are very close to all-time lows and afford today's purchaser the opportunity to save tens of thousands of dollars over the lifetime of the loan.

Honing in on those incredibly low interest rates we have now, you can see that there is a big difference between purchasing a house in December (2019) and purchasing one now (see chart):

Home buyer savings 2020


 

 

Bottom Line

Many families have decided not to postpone their plans to purchase a home, even in these difficult times. If you need to make a move, let's connect today so you have a trusted advisor to safely and professionally guide you through the process.

 


 

 

*Thank you to KCM for providing above graphics.

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Buying a Home Right Now: Easy? No, but, It Sure Is the Smart Move

The Maxwell House Group Charlotte NC

 

  Charlotte NC Homes for Sale

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Charlotte NC Real Estate Agents 

 

Charlotte CRS Agent


Debe Maxwell, Realtor®/Broker/CRS

RE/MAX Executive

CharlotteBroker@icloud.com
Direct:  (704) 491-3310

 

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Comment balloon 20 commentsDebe Maxwell, CRS • May 11 2020 05:42AM

Comments

Smart moves are never easy, great post Debe, hope buyers are reading and taking your advice, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) 20 days ago

Morning Debe.

Inventory is down right now.  We desperately need homes that are 200K or less.  Buyers are waiting in line

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty) 20 days ago

Good morning Debe. Real estate is a very local thing. In the vast majority of local enclaves now may be the time to pursue a purchase. Enjoy your day!

Posted by Wayne Martin, Real Estate Broker - Retired (Wayne M Martin) 20 days ago

Hello Debe - not only is real estate "local" is also  a personal decision based on the needs and desires of people.  So, yes indications can be found that making a move right now this is not only right but smart.  

Posted by Michael Jacobs, Los Angeles Pasadena 818.516.4393 20 days ago

Good morning, Debe Maxwell, CRS in Massachusetts, the Governor classified us as essential workers....we show property and list them....we've been busy with buyers ..... some listings are coming back on from the point of the initial panic of Covid-19.... but not all will come on yet.... 

Posted by Barbara Todaro, Marketing Agent for The Todaro Team (RE/MAX Executive Realty ) 20 days ago

 

 

Posted by marti garaughty, a highly caffeinated creative type... (garaughty.com) 20 days ago

Hi Debe Maxwell, CRS - our agents in Westchester think there will be lots of interested buyers as people flee the city for more room.

Posted by Grant Schneider, Your Coach Helping You Create Successful Outcomes (Performance Development Strategies) 20 days ago

Debe the COVID-19 virus has created a few obstacles to the process of purchasing a home, but the benefits of home ownership FAR out weigh the challenges.

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 20 days ago

Debe also I meant to stop by yesterday to wish you a very special Mother's Day!!!

Posted by George Souto, Your Connecticut Mortgage Expert (George Souto NMLS #65149 FHA, CHFA, VA Mortgages) 20 days ago

Hi Debe Maxwell, CRS - It has been rare that I have found any closing to go without at least a bump or two. But it takes a professional like you to smooth out the road for each client. 

Posted by Sheri Sperry - MCNE®, (928) 274-7355 ~ YOUR Solutions REALTOR® (Coldwell Banker Realty) 20 days ago

Thank you, Endre Barath, Jr. and no, smart moves are not always easy but, now is definitely the time to make one! 

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

Same here, James Dray! I have buyers right now in the under $300 range and those are a real challenge to find.

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

Thank you, Wayne Martin! I have one client looking in the $300K range - multiple Offers are commonplace in a large number of the neighborhoods but, one particular area has a DOM of 3 times that of the others. Obviously, multiple Offers are not a concern there!

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

Agreed, Michael Jacobs and if you're smart, you'll see to it you put yourself in that 'right' place too!

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

We're seeing that now too, Barbara Todaro. I'm ready for real estate to open back up - full-speed ahead!

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

Thank you so much, marti garaughty! I hope you're doing well and had a great Monday and have a wonderful week ahead.

Posted by Debe Maxwell, CRS, The right Charlotte REALTOR! (www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310) 19 days ago

Debe Maxwell, CRS Buyers are not waiting and for some of us...it is a busy time. 

Posted by Margaret Rome Baltimore 410-530-2400, Sell Your Home With Margaret Rome ( HomeRome Realty 410-530-2400) 19 days ago

We've seen the continued interest in homebuying in my area.  I've seen buyers bid above list on home between $850k to $1.1 million over the past month or two.  It doesn't seem to have missed much of a beat due to the pandemic.  However, I think some smaller, rural areas may be more affected by it.  I've heard that there could be a migration of urban dwellers moving toward the more rural areas, so that may be an something to watch.  Great post, Debe!  Enojoyable to read!

Posted by Mike Bjork (Pinnacle Home Loan) 19 days ago

This is a great post, Debe Maxwell, CRS. Just proves that ole saying - buyers gonna buy.

Posted by Lanette Branch, Bel Air, MD Real Estate Agent (RE/MAX Components) 18 days ago

Hello Debe,  Great post and hope more people would be buying now.  I jst got the word this morning from one of my buyers they are going to wait till September as if wife company is closing down.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) 17 days ago

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