Real Estate During COVID-19 Crisis in Alaska, The Unknown

Real Estate During COVID-19 Crisis in Alaska. Whats up? And a little about whats down. 😊

You may have heard from your friends that Realtors are calling them – even Realtors they don’t know – asking if they want to sell their house. I’ve been hearing from a lot of people they are getting calls like that, pretty much all saying the same thing. Even people that are on the do not call registry – like myself! Yes, I have also been called like that. However, I do NOT make calls like that.

Whats really going on with Real Estate During Covid -19

Are you wondering what is really going on? From a source you can trust? Well, here I am and here it is!

April 2019 we had 1,500 listings, active listings for property, homes, condos, etc listing in the Alaska Multiple Listing Service for sale. April 2020 we have 1,100. That is down by 30%! So YES, we absolutely have a shortage in inventory.

You were thinking about selling this year, then the virus hit and all the unknown crazy stuff, stuff that we haven’t experienced like this before! Unsettling for sure! And now with the fear of getting it do you really want anybody in your home? Certainly not people just traipsing through for the fun of it because “someday” they want to buy their dream house. Keep reading, I promise to talk about this more!

Are people even buying? YES!! If you’ve heard me on the radio, you’ll remember I stated someo f the lending stats. As an industry in our country, there is a certain amount of lending they believe they will be doing for home mortgages, for the year. The first quarter of 2020 we surpassed the year’s anticipated total by about 3 times. Let that sink in. The 1^st quarter, January, February, and March of 2020 when the whole world was put in quarantine and made to fear every other living human being, the mortgage lending industry (which of course is tied to the Real Estate Industry) in our country surpassed the year’s estimation by about 3 times in the amount of home mortgages the industry leaders had anticipated for the year. 

How is this so? Interest rates are seriously low – and we all know they won’t stay that way. One interest point (1%) can change a buyer’s purchasing power by $40,000!!! That is substantial!! Also refinancing is going on and that is part of the equation as well. I had a client that went to one of my preferred lenders (preferred because they communicate well and do what they say they are going to do) to refi. He not only lowered his payment, he was able to pull some equity out to put in a new septic system! WOW!!! Interest rates make a huge difference!! Buyers who need to upsize, downsize or make their first time purchase – this is an unprecedented time for you to move forward! Contact me, I’ll walk you through the steps and together we can make this happen!

Now that you understand that this is an unprecedented time for Buyers to make that home purchase – does’t it just make sense that now is also an unprecedented time to list your home for sale?

How can I list my house for sale and keep me and my family safe? GOOD QUESTION!! I’m so glad you asked!! My brokerage is on the cutting edge of technology AND safety measures! How would you feel about listing your home if the people for the open house watched the virtual open house instead of coming in person? If we could show buyers your home virtually and online so that very few people need to be in your home? If I could show you a list of precautions that will be taken when someone does enter your house (and it’s a bit of a through list!)? If I could schedule showing with ONLY pre-qualified Buyers, not just all the lookey lu’s or tire kickers? How would that feel? Does this feel more comfortable to you knowing I will be marketing your house in such a way to attract Buyers before they even see inside, limiting the number of people walking through your home, AND taking major safety precuations when someone does come in your home?

Seriously? You can do that? YES!! Not only can, but I am doing it! In fact, I wrote an offer for my clients on a home that wasn’t allowing in person showings. The offer was accepted. Now that the offer is accepted, the Buyers and the Buyer’s home inspector will be coming through the home.

My client’s understand the contract they sign, before they sign it. My client’s understand that the contract provides for a Buyer’s Due Diligence. So if the Seller has a high risk individual at home and doesn’t want a bunch of people walking through, after we have the purchase and sale agreement signed and agreed to, there is ample time for the Buyer to come in (by appointment) and see the condition of the house inside (pics can lie – not mine – but some do) and have the home inspected.

Did you know that a large majority of home buyers find their home online before they even contact a Realtor? I’ve seen stats that suggest anywhere between 85%-90%.

Did you know there are buyers pre-approved right now that very well could be interested in your home becoming their new home, but they don’t even know you want to sell because they can’t find it online?

The truth is, the time is pristine to buy a house right now – we have no way of knowing how long the interest rates will remain this favorable, which also makes it a pristine time to sell right now. Breathe easy, I have precautions in place to keep people aware and keep people safe.

Now, are you ready? Give me a call, text, email, website chat…. CONNECT WITH ME so we can go through your specific situation and make a plan.

If you are wanting to buy and would like a list of properties that meet your specific needs (makes the online searching much more effective) and what is coming along – lakefront? Fixer upper? Acreage? Connect with me! To be the first to know of a hot property, you must be connected to a Realtor – ME!!