What is the impact of COVID19 on my home resale value?

We’re getting that question quite a bit these days with COVID-19 going on. People are wondering if now is the right time to sell their home, or if they should just hunker down and wait to move.

I can’t speak to other markets right now, but in the Denver area, we are seeing an extremely hot real estate market unfolding for the summer. What I mean by hot is we’re seeing a situation where we have far fewer listings than we have buyers.

This is the same situation that we’ve had over the past five or six years in the Denver area. It’s just a supply and demand thing. What we’re seeing is that homes that are priced right in good neighborhoods, good homes, are selling extremely quickly, usually at or above listing price. They’re getting multiple offers on the house.

So right now is an excellent time to sell your home. And as of right now, COVID doesn’t seem to be affecting the ability of home sellers to sell their home at a really good price. So now is an excellent time to list your home.

Now, if you’re curious what your home is worth and what your neighborhood is doing, we have an excellent email that we send out once a month called Homebot. And if you’re not already plugged into this, this is a wealth of information. It’s a bunch of statistics specific to your home and to your neighborhood that can give you an idea of what your home value is, what your neighborhood is doing. It’s kind of a litmus test as to what’s going on in your area and can be a great gauge for figuring out if now’s the right time to buy or sell.

So if you’d like to get on that, if you’re not already getting Homebot, just email me, give me a call/text me at 303-670-0137. I’d be happy to add you in there. It’s absolutely free. And like I said, it’s a wealth of knowledge that can really help you with that decision making if now is really the right time. So give me a call if you have any questions about that or anything else loan related, home loan related.

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