Small businesses that borrowed $150K or less can soon apply for loan forgiveness directly through the Small Business Administration rather than their lender.WASHINGTON – The U.S. Small
‘Dated Homes’ No Longer a Deal Killer? ☘ Hoey Team ☘ eXp Realty
Dated: July 17 2020
The COVID-19 pandemic has prompted many residents to rethink their home and priorities, nudging some residents to leave city abodes in favor of the suburbs and more space.
With a limited number of homes for sale, many sellers are fielding competitive offers and bidding wars as some Americans look to relocate. And those looking to move quickly may be willing to make greater compromises in their preferences than they were just a few months ago.
“Sellers are realizing the sudden new demand—it’s like catching lightning in a bottle,” Jaime Sneddon, a broker with William Pitt Sotheby’s International Realty in New Canaan, Conn., told The New York Times.
The New York Times recently called out five trends from the coronavirus pandemic that are changing suburban real estate, and spotlighting the trend that some buyers may be getting less picky under such limited housing choices.
Move-in ready homes are still high in demand, but buyers may not be so quick to dismiss those that need a little more TLC as they may have done so in the past.
“Younger buyers have really not wanted to take on renovation projects, so if a house wasn’t move-in ready, it would take longer to sell and would sell at a discount,” Jeffrey Otteau, president of the Otteau Group, told The New York Times. “It sill has an effect on the selling price of a home, but the need for work is no longer an impediment to sale.”
There may be a tradeoff that more buyers may be willing to make, such as accepting a dated kitchen or bath in order to get something else on their wish list like a swimming pool, Cyd Hamer, a real estate professional in William Pitt Sotheby’s Westport office, told The New York Times.
Ann Hance, an associate broker with Daniel Gale Sotheby’s International Realty in Manhasset, N.Y., says she listed on June 12 a a dated three-bedroom colonial for $1.599 million. “It’s a house that needs work,” she acknowledges. “It’s got a great backyard and nicely scaled rooms, but it needs updating.” She says she received seven offers that weekend and the home is set to close for “substantially more than the list price and it’s all cash.” “This wasn’t the case in 2019,” she adds.
Here in Southwest Florida, inventory is low, but we continue to list and sell real estate. At our Team ☘ and Brokerage, we have been succesfully working 100% virtually / remotely for the past number of years as we grew, so we have been used to this new requirement, and we just had our eXp shareholders summit, virtually, using VirBELA, which powers eXp World; our virtual campus.
Article content from NAR (National Association of Realtors) Newsletter and from other sources including Hoey Team ☘ eXp Realty and Freddie Mac
On this page we are adding a list of Vendors for COVID-19 related items here in SWFL. Please let us know if there is a Vendor / Store we should add: www.VisitCollier.Com Feel free to share with anyone looking.
NOTE for Buyers and Sellers: On our Hoey Team ☘ VIRTUAL OPEN HOUSE Page you may WATCH ? Detailed HD 3D Immersive VIDEO ? Walkthrough Tours for all our COMING to MLS & AVAILABLE LISTINGS right HERE: ? www.SWFLVRE.com ?
For more Real Estate related information as we go throught this COVID-19 experience, or if you have questions on any aspect of Buying, Selling, Upsizing, Downsizing, Moving within or Relocating to or from Florida (the number 1 state for people to move to), or on any aspect of the Real Estate Market, Locally, Nationally or Internationally, please let us know, we can help, we can address / answer your questions, and we are always available to help you or someone you know.
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Hope Everyone Remains Safe; we are all in this together; and we trust that we will get through this Coronavirus COVID-19 pandemic more united, as one, with as little loss as possible.
Please let Kim or Barry know if we can do anything to help anyone in need here in Southwest Florida, weither it is for you or for a loved one, and we are able to help in a responsible social distncing way, we will certainly do what we can to help.
Also; please check out the other blogs, and tabs to many other Links, Updates, Reports & Stats that we have here on our informational website. ☘
We hope that you find the information useful. If you have any questions, please do not hesitate to contact Barry or Kim with the Hoey Team ☘ brokered by eXp Realty
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