With Covid-19 happening, buyers and sellers may be wondering how the Incline Village, NV real estate market has been impacted. While this pandemic has caused a lot of economic turmoil and uncertainty, real estate is poised to be one of the main things to lead us out of this downturn and back into recovery. While many potential buyers think that now would be a great time to get a screaming deal on homes for sale in Incline Village, NV, this is not like 2008. In fact, we went into this with low inventory, increasing home values and high buyer demand. As it stands currently, seller motivation across the U.S. is weak and buyer demand is still high. So, what does that mean if you are serious about listing or buying homes for sale in Incline Village, NV? It means that for the moment, it is business as usual in the world of real estate. For the most part anyway. Sellers should still price at market value and buyers shouldn’t attempt coming in with a lowball offer. Where things are different, however, are in the ways protocols operate.
Sellers are now adjusting to not having their homes for sale in Incline Village, NV held open for public tours every weekend. They also are adjusting to virtual showings and navigating the world of keeping their home and families safe from strangers bringing Covid-19 into the very place they have been instructed to shelter in place. Incline Village, NV realtors are working hard to not only stay updated on the latest news from public health officials, but also the new and necessary paperwork required. Buyers now must be pre-approved and rely on virtual tours before they can schedule a private showing. Once a private showing has been approved, there are protocols in place like limiting the amount of people in the home, wearing booties, masks, not touching anything and having to wash hands/disinfect before and after entering.
Once an offer has been made and accepted, the process is taking longer than usual. Lenders are more stringent with their guidelines and are working through the back log of folks wanting to refinance. Some appraisers are simply driving by to determine a home’s value while maintenance and inspection vendors are having to space out their scheduling to less properties per day. The actual close of escrow is being done in a variety of ways, such as drive in, a virtual closing where all the paperwork was mailed ahead of time and signing happens over ZOOM. Some escrow offices are keeping buyers and sellers in separate rooms or staggering each party’s signing. Your Incline Village, NV realtor will help you navigate these new processes which is why you should choose someone you trust who has a lot of experience. More than ever, we act as your guide and advocate during a time when things are operating much different than we are all used to. For more information on buying or selling Incline Village, NV real estate, give us a call. We’d be happy to help!