This year has been a whirlwind for sure, no matter what industry you are in. Forbes recently came out with an article titled “15 Predictions for the Real Estate Market in The Second Half of 2020”, which I imagine you are just as curious about as I am.

According to the article, entrepreneurs from the Forbes Real Estate Council gave the following predictions for the second half of 2020:

1. Demand for Housing Will Remain Robust…

2. Home Sales Will Get Closer to 2019 Levels…

3. Refinance Demand Will Continue…

4. Substantial Increases in Foreclosures…

5. Remote Work Will Affect Home-Buying Decisions…

6. Mass Adoption of Tech to Limit Human Interaction…

7. Virtual Tours With Human Guidance…

8. Capital Reallocation Between Real Estate Classes…

9. More Preferred Equity Fund Offerings…

10. Class B Multifamily Properties Will Remain Solid…

11. More Opportunity To Acquire At A Discount…

12. Commercial Real Estate May See A Slowdown…

13. Warehousing Market Will Continue to Grow…

14. Growing Interest in Suburban Or Rural Living…

15. More Interest in Properties with Fitness Amenities…

For a more detailed look into these predictions, be sure to read the full article from Forbes by clicking here.

According to this article from Realtor Magazine, “about 77% of potential sellers are preparing to sell their homes once stay-at-home orders from the COVID-19 pandemic are lifted, according to a newly released survey from the National Association of REALTORS®.”

Buyers are slowly starting to reemerge as well. Interestingly, though, some of their priorities have changed. Many, for example, have changed their neighborhood preference to a more suburban setting (vs urban) as a result of the pandemic. Check out the article for more details.

The internet has changed the way we do things in so many ways. In real estate, the solution to knowing how to price your home should also be dictated by the internet. A lot of times, you will see houses priced just below a round number (such as $299,900 instead of $300,000). This is called “charm pricing.” With internet search parameters, however, this pricing strategy is becoming outdated. Why? Let’s take a look at the graphic below from TRS Magazine.

You’ll see that if a buyer, using a modern real estate website, searches for property using the site’s given price parameters ($150,000 – $200,000), your property listed at $199,900 will be in the search results. However, if a buyer uses a higher parameter ($200,000 – $250,000), your property will not be included. Raising the price of your home by a mere $100 will make your listing show up for both of these searches. In other words, more buyers will see your home, which means an even better chance of getting it sold.

Moving is stressful, plain and simple. Moving during the coronavirus pandemic? Stressful to the max. Many people, however, are still needing to move during this time. So what should you do if you’re one of them?

This article from Million Acres, entitled “6 Things to Do During a COVID-19 Move…and 4 That Will Need to Wait”, goes over what to prioritize during your move. This includes things like checking with your moving company to see what their hygiene/contact policies are, being prepared to pay for the cost of deep cleaning the home, and more.

On the flip side, their are things you shouldn’t worry so much about during your move right now as well. Things like decluttering, getting new things for your house, minor repairs, etc. It’s best to take care of these non-essential tasks later.

Selling a home is stressful enough without considering the current coronavirus crisis facing our country right now. What actions can you as a seller take? For starters, talk with your agent about using a virtual tour of your house to help limit the amount of people in your home. In addition, agents can utilize apps like FaceTime to “virtually” walk their clients through a home.

There are other ways you can help to reduce the anxiety of selling as well. My May-June 2019 newsletter lists some great tips. These include:

• Scheduling a designated “worry time”
• Using a “time out” such as working out or meditating
• Avoiding talking about your home selling plans in the evenings
• Consulting the professional (that’s me!) for advice on the sale of your property

While the structure of your home is always important, the interior and how it’s designed can have a big pull when trying to entice potential buyers. Some of the big key trends right now that can help sell your home faster are things that feel more natural—expressed in counter top, floor, and paint choices—and going neutral with grays. For further information and tips, check out this article from TRS Magazine or give me a call for some interior design tips and ideas to help sell your home!

For a pdf version of this flyer, please click here.