Howard W. “Hoby” Hanna, IV, President of Howard Hanna Real Estate Services, recently spoke with Cleveland 19 News about whether now is a good or bad time to buy or sell a house.
In the article, Hoby explained that each state-specific market is seeing different sale patterns, due to different stay-at-home orders and limitations. Regardless, he says the answer to the big question – if now is a good time to buy or sell – is yes.
A major reason to buy this season is low interest rates, which may increase slightly in the future, according to Hoby.
Sellers, meanwhile, are strongly encouraged to begin the process of listing their home due to market conditions:
“So I think if you’re selling your house, now’s a great time to get your house on the market. There’s not as much inventory you’re competing with, you want to put that inventory on. Even if it’s internet showings, virtual showings and creates activity, because you’ll have, I think you’ll have some additional competition coming through,” Hanna said.
Hoby also discussed the future of real estate sales during his interview, predicting that virtual showings are a trend that will last even when the crisis ends. For now, virtual showings aren’t just a trend. They’re a critical tool for those navigating real estate.
According to Hoby, Howard Hanna Real Estate Services has also begun preparing for when in-person tours begin again by purchasing 10,000 face masks and more shoe ‘fitties’ for people going into homes. When tours begin again, Hoby expects that they will look a little different than they did earlier this year:
“I think as homes open up you won’t touch as much, you won’t open many cupboards and closets. We’ll ask sellers to open doors and turn all the lights on prior to coming to a house, but I think they’ll be many precautions and social distancing. I think we’ll have an obligation to not have as many people in the house, maybe opening the door for people and allowing them to go in, and then coming back out and asking the specific questions and discuss,” Hanna said.