The coronavirus has made a big impact worldwide – impact that spans far and wide through businesses, religious institutions, government, education, and family life.
But have you paused to consider how it’s affected mobile home real estate in the post-COVID-19 society of America?
The real estate market comes with its own set of challenges. And while it’s hard to say what the future held where we stood from the initial coronavirus lockdown, here we are today in August 2020.
So where are we now? What is the real estate landscape for mobile homes in 2020 at this time?
We’re glad you asked. Tag along as we showcase some of the changes we’ve noticed in mobile home real estate post-COVID-19.
5 Changes post-COVID-19
From virtual showings and closings to the length of appraisals, real estate has changed the way it operates.
In light of coronavirus, companies have been forced to change the way they do business this year. Real estate is no exception, of course. Whether you’re a buyer or seller, it’s good to know what’s different.
1 – Virtual real estate sales
The switch to virtual real estate sales is probably one of the biggest changes found in the post-COVID-19 world of real estate. Sure, it’s been done before but as a special and unique alternative. But today, virtual real estate sales are the norm in this new world of extra health precautions.
Through apps such as FaceTime, a realtor can walk an entire family through a home. And that family doesn’t have to leave their current address to check out a new place. Thanks to technology, the realtor can display the entire home through a video call app.
2 – Zoom buyer consultations
Prior to a showing, there’s the consultation. Rather than meeting up with a real estate agent at their office, buyers can meet via Zoom and discuss their parameters and needs for a new home. This is a big game-changer in mobile home real estate. It even saves time in commuting to meet with potential clients.
3 – Work from home accommodations
To be sure, home buyers are looking for work from home accommodations in this new COVID-19 world. And then there’s the other side of the coin – real estate agents – who are also seeking WFH options.
In this post-COVID-19 world, the realtor can conduct much of his or her work from the comfort of their laptop at home. Except for showings of course, but even those require no contact with the potential buyer other than through a video call app.
But let’s go back to the buyer side of this point. Now more than ever, buyers are seeking out homes that can accommodate their work from home lifestyle. So an extra room for office space is often a must-have.
4 – Appraisals that take longer
Unfortunately, the post-COVID-19 real estate market comes with appraisals that take longer. This is a bit disconcerting if the process already seems long enough without such a hurdle to cross over. Normally, an appraisal would take 7 to 10 days. But thanks to coronavirus, appraisals can take anywhere from 14 to 20 days.
5 – Foreign buyers declining in numbers
We’re now seeing a decline in foreign real estate investment buyers. With travel bans from China being a big contributing factor, Chinese buyers opted to back out of potential purchases.
This is sorry news for the locations more apt to see business from foreign buyers.
Also, it should be noted that the most popular locations to foreign buyers carry the highest coronavirus case counts. So it would make sense for potential buyers to rethink the investment, right?
It’s a brave new world for buyers and sellers
Say hello to the brave new world of mobile home real estate. Buyers and sellers alike, take heart. The world is still turning despite the major changes we’ve seen. While the job sphere was looking glum, life didn’t stop for everyone. And even if it paused for some, it seems that the job dilemma is on an upswing.
Don’t be daunted by the dawn of virtual buying and selling of real estate. It’s working, and it’s a great alternative to closing up shop completely. Additionally, such means of buying and selling could prove a welcome change to many clients who are buying from a distance or who find themselves concerned about their compromised immune systems.
Prepare to sell well
Here are some things to consider if you’re selling your home post-COVID-19. Are you afraid this is absolutely a bad time to try to sell your home? Actually, that may not be true.