COVID-19 and Real Estate
We are all wondering where the world of Real Estate is headed among the COVID-19 crisis. Real Estate Agents in Cumming GA need to be able to guide you through this troubling time.
Selling a Home
So are you thinking of listing your home with a Realtor in Cumming GA? Lets look at what that means in the current Market.
First off with all the Government building closing we are having trouble getting houses through Closing. We are having to extend Closings. There is even a COVID-19 Clause that has been implemented by the Georgia Real Estate Commission. This is to give us more time to close everything. We are also setting up remote Closings, so people do not need to attend in person. So keep a cool head, you will not be in danger in trying to sell your home.
What about the Price you can sell your home for? That is the real question. While know one knows if and how much the Market will drop in Cumming. We expect somewhere in the 10-20% range on final retail value. If we look at the most significant drop in 2008. The Cumming GA prices dropped to a maximum of 20%. That would be worst case scenario. Keep in mind we are dropping from the very top of the Market Prices we have seen in the last decade.
Buying a Home
If you are thinking of buying, now might be your time. We are seeing Lending requirements dropping every month. And I’m sure you have seen interest rates dropping to a historic low. We are looking at rates as low as 3.5% Interest for first time home buyers. As a Buyer, it will become a buyers market. Meaning lower inventory and Sellers looking to off load faster. With dropping retail prices you can get more house for your money with a combination of Low Rates, Lower Down Payments, and Lower Prices. Talk to your favorite Lending Institution today about getting Pre-Approved. It will not affect your Credit much to shop around for Mortgages. They will let you know exactly how much house you can afford.
In Summary: The metro Atlanta and Cumming GA Market will survive. If you want a free CMA and listing package contact Robert Bogino today! If you need to Sell Your House Fast to a cash investor contact us at that link.