In these unprecedented times, stepping into the real estate market might feel like a daunting task. With the world in flux, it’s natural to feel a bit lost about buying or selling property. But don’t worry! Here are six essential tips for buying and selling houses in Phoenix during Coronavirus.

Essential Tips for Buying and Selling Houses in Phoenix During Coronavirus

1. Timing is Everything

In the current economic climate, many people are choosing to delay their moves. This can create a perception that sellers are under pressure, potentially driving down prices. On the flip side, some buyers and sellers need to act quickly due to job changes or personal reasons. Understanding these dynamics can help you make informed decisions.

For instance, if you’re a seller, knowing that buyers might perceive you as being under pressure can help you prepare better. You can work with your real estate agent to craft a narrative that highlights your property’s strengths and minimizes any perceived urgency. On the other hand, if you’re a buyer, understanding that some sellers might be in a hurry can give you leverage in negotiations. It’s all about timing and strategy.

2. Financing Options

July saw a spike in home sales as people sought more comfortable living spaces. However, the economic impact of COVID-19 has tightened credit standards. Exploring alternative financing options can open up more opportunities for both buyers and sellers. Creative financing can be a game-changer in these times.

Consider options like seller financing, lease-to-own agreements, or even partnerships with investors. These alternatives can make it easier to close deals when traditional financing is hard to come by. For sellers, being open to these options can attract a wider pool of buyers. For buyers, understanding these alternatives can help you find a home even if your credit isn’t perfect.

3. Prioritize Safety

Safety is a top concern when buying or selling a home during the pandemic. Ensure your real estate agent has strict protocols in place to protect your health. This includes screening for symptoms, requiring protective gear, and sanitizing surfaces. Your peace of mind is paramount.

Virtual tours have become increasingly popular, allowing potential buyers to view properties without physically visiting them. This not only keeps everyone safe but also broadens the reach of your listing. For sellers, ensuring that your home is clean and sanitized before and after showings can make a big difference. For buyers, don’t hesitate to ask about the safety measures in place before visiting a property.

4. The Advantage of Empty Homes

An empty home can be a significant advantage during the pandemic. A quarantine period of at least two weeks can ease concerns about cleanliness for both buyers and sellers. This added layer of safety can make the process smoother and more appealing.

If you’re selling an empty home, highlight this advantage in your listings. Buyers will appreciate the reduced risk and the peace of mind that comes with knowing the home has been vacant. For buyers, an empty home means you can move in more quickly and with fewer concerns about potential contamination.

5. Embrace Technology

Today’s technology offers a wealth of opportunities for virtual buying and selling. While it might seem straightforward, it’s crucial to stay within legal boundaries and be vigilant against scams. Always verify the identities of those you’re dealing with and meet in person before finalizing any deals.

Virtual open houses, 3D tours, and online document signing are just a few of the tools that can make the process easier and safer. For sellers, investing in high-quality virtual tours can make your property stand out. For buyers, these tools can help you get a better sense of a property without having to visit in person. However, always do your due diligence and verify all information before making any commitments.

6. Let Us Help

At Oak Street Properties, we’re here to guide you through the process with ease and safety. Whether you’re buying or selling in Phoenix, we have the expertise to answer all your questions and support you every step of the way. Reach out to us at (480) 637-5500 or send us a message today!

Our team is dedicated to making your real estate experience as smooth and stress-free as possible. We understand the unique challenges of the current market and are here to provide personalized solutions that meet your needs. From virtual consultations to safe in-person showings, we’re committed to your safety and satisfaction.