In March, Arizonians sheltered in place to help prevent the spread of the coronavirus. At that time, real estate activity halted as health officials and citizens determined safety protocols. Today, the state is operating according to a phased reopening plan, and the Arizona real estate industry has adapted to the present conditions. If you are contemplating a move, you will want to know: Should I sell my home during the pandemic?
The Arizona Real Estate Market is Active
According to a recent news report, the Arizona real estate market is doing well despite the pandemic. In popular markets like Metro Phoenix, area real estate agents report that market conditions are now similar to what they were before the outbreak. Many are seeing multiple bids on single-family homes and expect that prices will continue to rise in the area. Depending on where you live, your property may attract several interested buyers. Any real estate sale is about timing, and you want to gather information before putting your house on the market. You should consult with an experienced Arizona real estate professional to learn more about your area’s activity and conditions.
Arizona Realtors Have Adapted Well to Showing Homes
One challenge that the pandemic has presented is showing properties to potential homebuyers. As one of the professional groups that have been considered essential, real estate professionals have been operational since almost the very beginning. Therefore, many Arizona realtors have adapted quickly and remarkably well to these conditions. These professionals have developed ways to effectively use safety precautions when showing homes. By employing measures such as using and providing masks, hand sanitizers, and gloves during in-person showings, agents have been able to present homes to buyers safely. Additionally, through 360-degree tours and live streaming, these professionals have successfully marketed properties remotely. With the right technology and Arizona real estate agent, you will be able to effectively present and sell your home to potential buyers.
Interest Rates are at Historic Lows
Currently, mortgage lending rates are at historic lows. Buyers who have a secure income and are ready to purchase are in an excellent position to borrow. Those potential homebuyers who can take advantage of these extraordinary rates appear to be doing so right now. Many of these individuals are also looking for housing in Arizona markets. The popularity of these real estate loans could mean there will be more buyers looking to acquire property in the Grand Canyon State.
Arizona Experts Advise Selling
In a recent interview, Gary Pivo, a professor in the College of Architecture, Planning and Landscape Architecture at the University of Arizona, was asked what advice he would give people who were thinking about selling. Professor Pivo responded as follows: “For sellers, prices are holding up just now and have been rising for the past few years. So, it is a good time to sell even if you may have to wait a little longer to find a buyer. I don’t see much upside to waiting.”
When buying or selling real estate in Arizona, it’s crucial that you have an experienced real estate attorney to protect your interests. Laura B. Bramnick is an experienced Arizona real estate attorney who can help you manage all aspects of your Arizona real estate matter. If you are seeking an exceptional, client-driven real estate lawyer in Phoenix, and throughout the State of Arizona, contact Laura B. Bramnick to schedule your consultation.