Opportunity Where You May Least Expect It
We still haven’t seen the drop in pricing many expect to see given the current stay-at-home situation. In our last post, we talked about how real estate is an essential business and that those who are forced to relocation during this time will be one of the groups in need of housing. However, we didn’t mention what kind of housing. What’s still selling? Vacant properties.
Homes that have been empty for the last few months due to construction, rehab or flipping are still being sold. We suspect it’s because these homes see more traffic. Buyers feel slightly more comfortable touring a home that’s not been lived in since the start of the viral spread. Our loan officers are still having uplifting conversations with investors who are still able to move properties off the market and expect to continue to be able to do so until the supply increases and the values decrease.
Remember when you craft your marketing messages for your vacant properties that what is often seen as a disadvantage, is now a major advantage! For more information, question or funding contact us!