It’s become somewhat cliche, but these are certainly unpredictable, and unprecedented, times.
Springtime is traditionally the start of the hot selling season in real estate markets across the United States, but of course, Spring 2020 is anything but ordinary.
Communities affected by the COVID-19 pandemic have gone to varying degrees of shut down, with many businesses closing completely, while others have had to significantly change the way they operate.
With all this going on and many jobs being lost, it’s not surprising that many may be a little hesitant to jump into the real estate market.
It’s Actually a Great Time to Buy
Despite what you might think, it’s actually a uniquely great time to buy.
A number of market conditions have all come together to create a kind of perfect storm - to your benefit as a buyer.
Right now, due to the uncertainty in the marketplace there are actually less buyers out there. This means there is less competition making offers on your Santa Cruz dream home. This same uncertainly is also affecting sellers, making them more motivated and more likely to accept your offer.
Therefore, we are likely to see a strong rebound in the market once this is all over (and it will be over). Pent up demand could then manifest itself through even higher sales prices than before - all the more reason to act now before it's too late!
Local shelter in place orders for Santa Cruz have restricted the way real estate transactions can be completed - only small gatherings are allowed, and open houses are basically not a possibility right now.
Luckily, technology has made it possible to go through essentially the entire process of buying a home virtually. Docusign, video conferencing and 3D / video tours have all made it possible to complete each step of the real estate transaction as if you were there in person - all from the comfort (and safely) of your home.
The process may be a little different than what you’re used to, but if you want to take advantage of the uniquely advantageous Santa Cruz real estate market conditions, get your home search started now. We’re here to guide you through this weird and wonderful new process.
The times may be a uncertain and confusing but the process of buying your new home doesn’t have to be.