News | Quad Cities Real Estate Blog
We are heading into one of the most-welcomed seasons of the year, and as the window for warm weather slowly closes, so does the opportunity to move into a new home without having to sludge your way through the sleet and snow with a handful of boxes. It’s no secret that our wicked winters here in the Midwest have the potential to create some unnecessary headaches for homebuyers, which is why there’s no time like the present to pull the trigger on purchasing a new home in the Bettendorf.
Beginning the process of purchasing and moving to a new home presents its own set hurdles to overcome, including everything from the small, yet tedious task of packing, to the larger scale issues such as getting your family settled in and comfortable with their new neighborhood. Many of the issues that arise are common, however, prospective Quad City homebuyers have recently encountered an unexpected challenge over the summer as the real estate market in the QC area continues to blossom: homes are selling too quickly.
There is no doubt at all that the coronavirus pandemic is greatly transforming the way that we both sell and buy homes. While the long-term effects of the ongoing health crisis is something we can in no way predict, the fact of the matter is that trends and factors that existed in February and March are no longer usable metrics when it comes to anticipating how the market will continue moving forward.
COVID-19 seems like it’s not going anywhere anytime soon, so we think it’s a good idea to go over some important considerations about how to manage public safety while working on selling a home. These concepts are not entirely new to this blog, but it is worthwhile to revisit and make ourselves familiar once more with practices that can greatly reduce the possibility for contracting or spreading the deadly illness.
The Quad Cities are truly a unique place within the country. Once a hub of manufacturing and industry, these cities straddle two states as well as the largest river in America, the Mississippi. To say that there is beauty here is a vast understatement. To say that there is culture, history, and heritage are all similarly impoverished sentiments.
Up until the middle of March, there were numerous questions facing prospective buyers. Each open house or private viewing required those searching for a home to ask whether or not the square footage was acceptable, whether the proximity or distance from schools was desirable, if the back yard was big enough, drained well enough, received enough sunlight, if the basement was finished, if there were cracks in the foundation, if the windows/roof/water heater needed replacing. Each of these questions propelled those looking to purchase a home into lengthy conversations, debates, and, hopefully, the selection of the house that would fulfill their needs in the best possible way.
Showing a home in the age of coronavirus is a challenging thing. Across the board, the real estate market is experiencing a dip in the number of individuals who are searching for homes at the same time as home sellers are attempting to reduce the number of people traveling through their space. Open houses are being cancelled, listings are being delayed, and many people are simply choosing to postpone their search for a home indefinitely.
For the past several years, the news about the real estate market has remained somewhat consistent: a seller’s market. Ever since the 2008 recession, home sales have continued apace, rebounding after the crash and regaining incredible momentum. That is, until the outbreak of the novel coronavirus-2019 (COVID-19). While this is a grim moment for humanity in general, the news for those looking to purchase a home seems to be getting a touch brighter.
As it goes with all other areas, the real estate world is deeply feeling the effects of the novel coronavirus (COVID-19). Ever since communities throughout the country have reported cases of the extremely contagious and potentially fatal virus within their midsts, individuals attempting to sell homes have found themselves somewhat at a loss when it comes to ways to continue with the process. While it is too early to know just how the COVID-19 outbreak will affect the real estate community – both the buyers and the sellers – it is clear that a change will take place.
As we move into uncharted territory within our community regarding the COVID-19 virus outbreak, we wanted to take some time out to address the developing situation and what we are doing to ensure the safety of our clients, co-workers, families, and friends.