The key is the crisis going to end? The answer is yes it will because we cannot afford to go much longer, because of the stock market alone. Buying real estate in during this short time crisis may get you the best deal of the year.
We are not seeing a slow down in homes, but the inventory will be increased for a bit and that is a great time to buy real estate. Inventory will be effected only because a lot if Agents are not showing homes, and the buyers will still be there after this is over.
The good news is in Ohio Real Estate values are still going up and I do not see anything that will cause that to change in 2020.
Interest rates are extremely low and people are refinancing like crazy , I was reading an article that talked about the mortgage industry not being able to keep up with the demand! People are taking advantage of the feds lowering interest rates because of this crisis.
Buying real estate today gets you the best chance and maybe the last chance for a while to get a better deal on property. I know of a few properties that I can get for my clients at an exceptional deal.
In 2014 I had a lot of clients that purchased real estate in the Parma Ohio area. The prices where as low as $36,000 for a home. There is no way you would get that today, but those investors made a lot of profit from buying the home during that housing downturn.
So remember that real estate or the economy is causing this crisis and we will get back to normal soon.
Need real estate for your portfolio? Call me I'm Brett 216-703-5740 Icon agent for the last two years with EXP Realty Ohio and #1 Agent for transactions in 2019.
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Thank you