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Archives: October 2020

How to Search for a Home During COVID

Are you looking to move but concerned about safely searching for a home during the COVID-19 pandemic? These times are definitely different than anything we could have imagined. However, with these careful steps, we are able to aid you in searching for a new place to live safely in the Albuquerque area!

How Has Looking for Home Changed Due to COVID-19?

Like many other things that COVID-19 has impacted and altered, searching for a home is no different. Looking for a home during the pandemic will require tenacity and the willingness to be adaptable in everything but your budget.

Home tours have definitely changed the most, and the market has now skewed more in favor of sellers. This transition can lead to bidding wars, as the number of available homes remains low in comparison to the number of buyers looking to take advantage of historically low interest rates. More safety precautions, such as masks and social distancing, have also been put into effect to keep the home buying process as safe as possible.

House tours have changed to improve safety

A woman views a house virtually while searching for a home during COVID-19.

One of the best parts about looking for a home is getting to tour all of the listings that are out there. Unfortunately, that is one thing that COVID-19 has impacted. There have been changes in how buyers are allowed to view homes they are interested in. Potential home buyers are now able to tour and view homes virtually to keep themselves safe. 

While it’s still possible to view a property in person, it may have to be in a smaller group you had originally planned when you started searching for a new home. If you would prefer to tour a home via Zoom, many agencies are offering that as an alternative as well. 

Be prepared for a bidding war

People wearing masks meeting.

There are a lot of buyers in search of additional space to accommodate those spending more time at home. But the limited number of homes available creates a higher demand for homes than are obtainable on the market.

While you may feel like you are staying on top of new homes coming onto the market, sometimes a more personable approach can make the difference in securing your new home. Writing a personal letter to the seller may help by letting them know what living in this home would mean to you as the buyer.  

Wear masks and keep your distance!

A woman puts on a mask.

Be sure to contact your Realtor when you’re interested in touring a new home. In order to keep both buyers and sellers safe, masks will be required to comply with state mandates, and you may be asked to wear gloves. 

We inform you not to alarm you, but to make you aware of the changes that have occurred as a result of the pandemic. Some things, such as the addition of requiring masks and social distancing when touring homes, have been made to improve safety measures not only for the seller, but the buyer as well.

Have Additional Questions About Searching for a Home During COVID?

Searching for a home during the COVID-19 pandemic can be a confusing and scary time for all. However, we are here to help! Contact us today for all of your questions regarding buying and selling in the Albuquerque area during this unprecedented time. We are ready to help you find your dream home safely!

Make Your Home Boo-tiful with These 4 Halloween Staging Tips

If you step outside on a cool October afternoon, you might just smell some pumpkin spice and freshly picked apples wafting through the air. That can only mean one thing: Halloween is just around the corner! And while this ghoulish holiday delights both kids and kids-at-heart, it also creates interesting staging opportunities for home sellers.

As tempting as it might be to pull out your most spine-chilling decorations, buyers probably don’t want to walk through a haunted house to tour your space. If you want to avoid a home staging horror story, we have a few tips to help you incorporate a little spooky flair without going overboard.

Here’s How to Add a Tasteful Touch of Halloween to Your Home Staging

While it’s totally acceptable to add a dash of Halloween-inspired decor to your home, your goal should be to stage for the season, not the holiday. That means using more fall-focused decor instead of going all-out with spider webs, skeletons, and other eerie touches.

Here are a few guidelines to get your home looking its best for autumn buyers. And if you ever have questions about what is and isn’t appropriate, just ask your agent for advice!

Start with your front porch

Pumpkins on a doorstep

If you absolutely have to add a bit of Halloween fun to your home, consider transforming your front porch into an area that both buyers and trick or treaters will love. Start by setting out some natural touches, like pumpkins, potted mums, or even a small bale of hay. You can always tone up the holiday spirit with a Halloween-themed welcome mat or wreath.

Try to keep all of your outdoor decor as low-key as possible. That means waiting to put out any inflatables, cobwebs, or light displays until you move into your new home.

Put out some pumpkins

Painted pumpkins

Looking for an easy way to get buyers in the Halloween spirit? Pumpkins are one of the most versatile fall accessories, and they work well inside and outside! Aside from the traditional jack-o’-lantern, you can also set out some smaller, uncarved pumpkins throughout your home. If you’re in the mood for a DIY project, paint some craft pumpkins in neutral tones to create little pops of Halloween cheer.

Pumpkins don’t all have to look the same, either. Head to your local pumpkin patch to check out different sizes and colors—there’s no better way to add a splash of orange, white, green, or brown to your space! 

Avoid over-the-top accessories

As you stage your home for buyers, it’s best to leave your most outrageous Halloween decorations in storage for next year. While you may love mummifying your living room or embellishing with spiders and bats, these additions can quickly morph into an unwelcome distraction during a showing. Instead, consider adding more subtle accents, such as dark-colored lanterns with votive candles, a fall-inspired tablescape, or candy displayed in tall jars.

You should also ensure that none of your accessories are gorey or frightening. The last thing you want to do is have buyers wondering if your house is truly haunted!  

Appeal to the senses

Votive candles

Autumn is filled with endless signature scents, sights, and flavors—and you can use them to your advantage when staging. To set the mood inside your home, try putting out some Halloween candy in a decorative bowl as a refreshment for buyers. Fall-inspired candles can add a sense of warmth, so don’t be afraid to bring on the pumpkin spice.

If you really want to go above and beyond, boiling a pot of apple cider, cinnamon sticks, and vanilla before a showing will help you invite some of the season’s best aromas into your home.

Leaves May Be Falling, But Home Sales Aren’t!

Don’t get spooked by the home selling process—our team is here to help! We have the tools you need to get top dollar for your home before the busy holiday season. And even if you’re still on the fence about selling, we’d be happy to give you a free report of your home’s current value. There’s never been a better time to cash out on your hard-earned equity, so just give us a call to get started!

What Increasing Home Prices Mean for Today’s Buyers and Sellers

To say that 2020 has been a bit of a whirlwind would be an understatement. And as we get closer to the end of the year, many buyers and sellers are wondering if it makes financial sense to enter the market. Although the warmer months are typically considered the best time to move, buyer demand continues to surge into fall, while the available supply of homes just keeps dwindling. This has caused home prices to skyrocket to one of their highest points ever.

Need some advice before breaking into today’s competitive housing market? We have a few details to consider before making any big decisions.

Buying or Selling Soon? Here’s How Rising Home Prices Will Affect Your Move

Real estate has always been about supply and demand. For example, during the housing market crash of 2008, home prices plummeted partially because of low buyer interest. Today, though, we’re seeing the opposite—prices are increasing due to waning supply and rock-bottom mortgage interest rates.

This is fantastic news for anyone looking to sell their home and cash out on their hard-earned equity. Buyers, on the other hand, may have to do more to stand out from the competition.

Why have home values increased?

Increasing home values

Even amidst a pandemic and national recession, buying a home is still a top priority for many Americans. In fact, according to a newly released report by the National Association of Realtors (NAR), the number of existing home sales reached a 14-year high this August. A similar report by Bloomberg states that if current demand holds strong, we could run out of housing inventory in around three months.

Wondering why so many people are clamoring to buy this year? Even in the face of rising home prices, low mortgage rates have enticed buyers to make a move. While record-shattering rates have helped to expand purchasing power, this intense desire for homeownership has caused prices to jump by a whopping 8.2% year-over-year.

Buyers can take advantage of lower interest rates to afford a more expensive home

Family buying a home

If you’re thinking about buying a home soon, you’ll need to be prepared to navigate a cutthroat market. Ever since rates started decreasing in late 2019, more and more buyers have decided to start searching for a home. Unfortunately, this means you could get caught in a bidding war or might have to make some compromises to secure a place of your own.

Although prices have soared dramatically since last year, buying a home is still an attainable goal. In fact, when mortgage rates sunk below 3% this summer, buyers found themselves with an extra $15,000 in purchasing power.

If you’re feeling a little overwhelmed by today’s market, you’re not alone—and reaching out to an agent can help you get the answers you need. Consider contacting a real estate professional before you start looking for homes. They can provide the expertise you need to find your perfect place!

Sellers should expect to sell quickly and for top dollar

Today’s sellers are in a better position than ever before. Nationally, the housing market has struggled to keep pace with buyer demand for the last few years, but this deficiency has only been exacerbated by the pandemic. By listing now, you could take advantage of fierce rivalry amongst buyers, high home prices, and low competition from other sellers.

Despite the ongoing recession, home prices have actually climbed throughout most of 2020. Between May and July, existing properties appreciated in value by a whopping 2%, which is the highest month-by-month increase in three decades. If you’ve lived in your home for at least a few years, you could be sitting on six figures of equity.

Even if you aren’t interested in selling, there’s never been a better time to check on your house’s current value. A top-rated local agent should be able to perform a full home analysis and tell you how much you could sell for if you listed today. 

Bottom Line: Now Is the Time to Talk with an Agent

Buying a home

Whether you’re thinking about buying or selling your home, you shouldn’t wait to connect with an agent who has plenty of experience in your desired area. They can help you keep up with today’s ever-changing market and answer any questions you might have.

Not quite ready to move? It’s still worth talking with an agent about your current home’s value, especially as we continue to see such dramatic price increases!

Ready to Take Your Next Steps?

No matter what your real estate needs might be, we’re here to help you every step of the way. Get in touch with us today and let us know what we can do for you. We can even conduct a comparative market analysis on your home to see how much equity you’ve gained over time!