Buying and Selling Homes in the Time of COVID-19

BUYING AND SELLING HOMES

in the Time of COVID-19

BY BRENDA FISHER, FREDERICK COUNTY ASSOCIATION OF REALTORS COMMUNICATIONS MANAGER

COVID-19 has changed everything, and we’re all trying to figure out how to live and work in the “new normal.” Although real estate has remained an essential business during the public health emergency, the pandemic has had a direct impact on buyers and sellers across Frederick County.

The question remains, is now a good time to buy or sell real estate in Frederick County? The answer is yes.

“We as real estate professionals are going to do everything we can to keep our clients safe, not only when it comes to selling your home, but when buying a home, too,” said Marie Lagos, associate broker/branch manager with Berkshire Hathaway HomeServices PenFed Realty.

Here are some things to consider if you’re thinking about buying or selling your home during the pandemic:

Open houses have gone virtual – We’ve all been social distancing lately, and since traditional open houses aren’t possible right now, many agents have switched to virtual open houses. Using video and still images, Realtors are able to continue to show properties virtually, opening up properties to buyers and sellers who otherwise wouldn’t be able to view them.

Low housing inventory – In May 2020, there were just fewer than 700 new listings in Frederick County, compared to more than 1,100 during the same month in 2019. Many people have decided to wait to list their home until after the pandemic subsides. Even though the inventory is low, the demand for homes is high. If you’re thinking of listing your home, now is a great time to do it.

Will buyers be able to find a home? – Finding the right home to fit your needs is always a challenge. Although the current housing inventory is low, new homes are coming on the market every day. Working with a Realtor will increase a buyer’s chances of finding their dream home.

Buying or selling real estate is one of the biggest financial transactions you will make in your lifetime. Make sure you have the benefit of a local Realtor to help you through the process. Just remember, not every real estate agent is a Realtor.

A Realtor is a member of the National Association of Realtors and guided by the standards of the Realtors Code of Ethics. Local Frederick County Realtors are members of the Frederick County Association of Realtors, the Maryland Realtors and the National Association of Realtors. www.fcar.org