The Columbus housing market has undoubtedly suffered due to the coronavirus. The economy and the real estate market are changing daily.
That’s why I decided to create a COVID-19 resource page for home buyers and sellers. Here’s the link:
Bookmark the page and check it regularly. I will publish new housing stats every week and provide links to valuable services and information to help you ease the impact of the crisis.
Success Story: Buyer Gets $18,000 Discount on New Built Home
This story began before we got fully engulfed by the coronavirus pandemic. But there’s a lesson to be learned that will help you buy a new home while the crisis drags on.
A few weeks ago, my buyers closed on a totally new home for $18,000 less than the original new-built price.
How could they get such a huge discount in a booming market?
The builder had just finished the home when its original buyer lost his job and could no longer close on the purchase. The builder was in a bind and ended up with yet another inventory home.
This was a perfect opportunity for my client. I was able to help them find the perfect deal because of my relationship with the builder’s rep.
Builders are More Flexible with Increase of Inventory Homes
Unemployment spiked dramatically in the past few weeks. Banks are not lending if you lost your job.
This will create opportunities as more people cannot close on the new home they started to build half a year ago.
I can help you locate inventory homes. Builders are ready to negotiate a fair discount to sell an asset that’s tying up their resources.
Move-Up Strategy Got Better During the COVID-19 Pandemic
Although some buyers are sidelined due to new lending rules and a job loss, the demand for housing is still very strong.
Homes below $300,000 are selling quickly, however, with fewer offers than a couple of months ago. We continue to see a strain on high end homes over $500,000.
Here’s my move-up recommendation: sell your starter home now for top dollar and move up to a luxury residence you can buy at a discounted price with the lowest interest rates ever.
This strategy works for new construction homes, too.
You can grab them at a discount and move into a totally new home right now instead of waiting the 6 to 8 months it takes to finish a new one.
Call or text me at (614) 975-9650 and let me help you with a profitable move up strategy.
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.