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Common Real Estate Questions
This past week, I've fielded a number of questions from friends and clients and I will answer the most frequent of those questions here. For some of you, the answer is simple - stay home or at least away from the weak and elderly. Others have no choice as life requires you to be on the move and all of you own an asset that represents a large portion of your net worth.
Premier Atlanta Real Estate is the only local company that ranks on the first page of Google for both "atlanta real estate" and "atlanta homes for sale". This unique position allows us to have some insight into consumer patterns in real estate other agents and brokerages simply can't see. We have not seen a slow down in the number of people coming to the website to view homes.
1. Will house prices drop? This is still going to be a function of supply and demand. Unless this drags out for a number of months, it's hard to see data that would suggest anything but a temporary setback. Remember, the financial crisis in 2006-2008 emanated out of the housing market and so it had a direct impact on pricing. This is a temporary crisis and will not have the same impact. In fact, we may have a slingshot effect when the pent up demand to buy surges back into the market on a compressed timeframe.
2. Are houses still selling? As a matter of fact, they are. In the last 7 days, 551 homes went under contract here in Atlanta between $100,000 and $1,000,000.
3. Should I list my house right now? Yes, you can list your house right now IF we do a great job with virtual showings and online visibility. If it isn't an essential sale, I recommend you go ahead prep the house for sale now and wait a week or two. Let's get it clean, decluttered, staged, photographed, videoed and do the digital marketing - we can help you with all of this and by the time we get that completed, we could go live or wait a little longer if the current situation doesn't seem to be improving enough to merit putting the house on the market.
4. Can I still go and see houses? In some states, the answer is no. California and New York have banned in-person showings and some sellers here are not letting people into their house. However, with the ability to do virtual showings, we can still keep you in the market.
5. What will happen when this is over? We expect a slingshot effect once it's over. That means if you plan to buy or sell, get your ducks in a row right now! Do not wait. You have the time to prepare, so be smart, talk to us about your goals. Do it now or risk missing out when the time is right. That time will come so you need to be prepared.
We can work with you on the phone/text/video conference - whatever makes you comfortable. Whatever you do, please stay prepared and vigilant and pray we get through this quickly.