Real Estate Advisor Omid Akale Discusses the Benefits of Selling a Home During the COVID-19 Pandemic
Omid Akale says that there are a number of factors in the real estate industry during the era of the pandemic that can help people sell their homes.
There is no denying that the COVID-19 pandemic has caused people in a number of industries to augment the way that they do business. The real estate industry is no different. In spite of all the changes that agents across the country have had to make, Omid Akale says that people who are looking to sell a home during the pandemic should not hesitate to move forward with their sale. In fact, Mr. Akale says that there are actually some benefits associated with selling a home during the pandemic.
People who are looking to sell a home should be encouraged to move forward with their purchase because the environment is ripe for people who are in the buyer’s market according to Mr. Akale. “One of the things that is benefiting both buyers and sellers right now is the decrease in interest rates. The interest rates are the lowest they have been in quite some time, Lower interest rates generally equate to lower mortgage payments, which is a great incentive that helps to motivate people who want to purchase a home.”, Omid Akale said.
The fact that there are so many people who are working from their homes during the pandemic is also a benefit to people who want to sell real estate according to Mr. Akale. “Although people are starting to move around a little more as states begin to lift restrictions, people are still staying home and socially distancing as much as they can.
People who are looking to purchase a home during the pandemic are shopping virtually. Sellers who choose to move forward with the sale of their property have a huge advantage over those who have chosen to delay the sale of their property because potential buyers are scouring the internet for properties, and sellers are able to capitalize on the additional visibility and exposure because the market is not as saturated as it would be if there wasn’t the uncertainty of a pandemic.”, Omid Akale said.
According to Omid Akale, people who are looking to sell larger homes have more of an opportunity to sell during the pandemic than at any other time. “COVID-10 has caused many people to think about what and who they value most in their lives. Many are looking for larger homes because the trend in housing right now is multi-generational housing. According to the National Association of Realtors, buyers want houses that have enough space to accommodate elderly family members as well as children who are returning from college. Houses with more rooms and square footage are definitely the biggest trend right now.”, Omid Akale said.