Some real estate markets are even hotter during the coronovirus pandemic.
It's not all doom and gloom. Everything did not come to a screeching halt in many small rural real estate markets like some areas for business activity. Some things never change in real estate and the importance of listing inventory is one of those areas. Listings are king and inventory priced realistically and in healthy supply across all the price ranges is the ammunition in any real estate market. Low cost homes for sale in Maine never ever go out of style. In tough times, those are the ones people search out for in even more. Like this home for under $15,000 real estate example.
When a coronovirus pandemic or a recession enter the real estate market, how that market behaves will shift however.
During the "let the good times roll" brisk markets fueled by a healthy economy, I find the top end listings sell easier. Not so difficult to match-make to connect buyers and sellers. But as the coronovirus news estabishes the new culture to life as we know it since the first outbreaks enter your state, the real estate market dynamics shift.
Suddenly the other end of the listing price range properties get the spotlight due to the spike head punk coronovirus cell's debut.
Those sturdy but neglected or outdate homes in the lower price brackets in the current inventory are the new hottest listings.
Not for the first time home buyer that lacks the funds to replace the curling shingle roofing or replace some damaged frozen plumbing.
Instead the buyer for the cheaper homes for sale in Maine is paying cash. In a hurry to find shelter to live in while room by room doing the updates.
Sheltering in place but dipping into the job jar to get the "dirty but nice" homes with issues back on their feet.
The handyman DIY homes don't stay on the market long. Or the ones that were lingering suddenly are very popular in online emails, office phone calls and texts. This rush for low priced homes for sale in Maine changes the real estate market numbers.
Cash, no bank, I'll take it and meet you down at the check out real estate sales. Low hanging fruit bought without going through the gyrations a bank underwriter would put them through in the more difficult task ahead. To get the green light clear to close memo for a real estate closing after a very long list of repairs is completed.
No no, instead take out quick and curbside pick up happens due to Mr. Coronovirus.
Where in many cases the buyer did not ever set foot in the home. Or deputized a relative or good friend downstate to eye ball the home and give them a what do you think synopsis of the place. The one used as a hunker down, stay at home cornovirus haven to work on and eventually flip. Anything beats paying rent right?
It's like in the movies where the guy runs into the sporting goods store.
Is looking for a real gun and not a pee shooter. He needs one particular high powered one ASAP and hit and runs in and out because there is major pressure. The coronovirus is that pressure to get in place. To shelter in place somewhere far away from the high population areas where the coronovirus cases are climbing exponentially and the curve is not flattening. And the home buyer is not hanging around to wait for the day it does.
The low cost homes are easier to raise the cash to make the purchase. Rural Northern Maine has lots of low cost homes for sale.
More expensive Southern Maine does not. I heard on York County resident on a Zoom meeting for tourism tell the panel that he had to finally admit it. That southern Maine has become a suburb for Boston, MA. Northern, eastern, western Maine is far removed.
Maine, the largest of the New England states. What used to be termed isolated is now called insulated from the hustle bustle city way of life.
Look how quickly the coronovirus spread changes the perspective.
We have lots of low cost, hot and ready homes for sale to go.
Real estate videos for the virtual open house round the clock make it hands off, no gloves, no mask, no coronovirus cells to worry about during showings.
Curbside pick up, like the pizza boy delivered all the property listings and area community information hot and ready right to your front door. Cornovirus safety approved and hands off, no touch sanitary. Some areas of the country would be way easy to shelter in place, to hunker down and stay at home sweet hoime. Maine is one low cost property area with lots of other perks and without the high prices for homes, land, farms, waterfront properties.
Don't believe the way it is in one real estate market applies for all of them.
Ask a real estate agent or broker who lives where he or she works for the current status. Like how is coronovirus affecting your real estate market, not all of them, not someone else's turf. Read more in the full article on Coronovirus, Real Estate Market Maine Rebound Looking Ahead.