Take the Plunge or Play It Safe?

Sellers and buyers alike are asking if now is the right time to buy or sell a home. There is no crystal ball. Even the experts can’t say how the market will be months from now. So really, the question is, is it the right time for YOU to take the plunge or should you play it safe? This depends on your personal reasons for buying or selling as well as your current financial position. But IS it possible to buy or sell in today’s world? The answer is a resounding Yes!

By order of federal and state authorities, real estate is currently classified as an Essential Service. The California Association of Realtors® (C.A.R.) released its latest version of Best Practices guidelines March 31, 2020. As one would expect and hope, the aim is to reduce the risk of exposure to COVID-19. C.A.R. also published a series of new forms which enable agents and brokers to help protect buyers and sellers should unforeseen circumstances arise related to COVID-19.

A big focus of the Best Practices guidelines is the use of technology. Innovation and adaptability are key to success. Per the guidelines, listing appointments should be conducted virtually if at all possible. To promote listings, many agents already make use of video tours, 3D tours, and a variety of social media. Now, this number is growing, and agents are increasing their tech skills or seeking assistance.

On the buying side, savvy buyers have been using the Internet to search for homes for many years. But now, a growing number of buyers are also visiting homes virtually through video services such as FaceTime. If any physical visit is made (currently allowed in Placer county), best practices advise following Centers for Disease Control and Prevention (CDC) recommendations.

Signing transaction documents, such as contracts, addenda, and disclosures is possible electronically; in fact, it’s already an industry norm. Some title companies are offering “drive-through” signings—much like conducting a transaction at a drive-through bank! Nearly all title companies can dispatch a mobile notary, thereby limiting exposure. There are a variety of ways to move money electronically or at least swiftly (e.g., using FedEx to mail a check or wiring funds).

The market is strong here in Granite Bay proper. In March, 22 homes sold and 15 more went pending. As of April 13, 51 homes are actively listed for sale and 26 are in contract. We have buyers from the Bay Area who are moving to our region for a number of reasons—COVID-19 included. There are opportunities to sell and buy in our community. They key is to consult with your agent and perhaps your financial planner to determine if the time is right for YOU!

The bottom line is that real estate IS currently an essential service. People need homes—whether they rent or purchase. Some need to move for work or family. Others need to downsize costs or increase space. Life is still happening! Find a realtor who can help you achieve your goals—COVID-19 or not. Hopefully, we’ll be able to look back on this period as one where we all became more flexible, more understanding, and more empathetic. Hopefully, it will better us as realtors and all of us as citizens.

Debbie Austin is a realtor associate with Keller Williams, Roseville and has been helping clients buy and sell property in the area for 16 years. If you have a specific real estate question you wish to see addressed, contact Debbie at debbieaustin@kw.com or debbieaustingroup.com.