Heading into the home market as a buyer or seller is different than it ever has been before. But where there is economic adversity, there are also those ready to seek an opportunity for an investment, like a second home.
Realogics Sotheby’s International Realty Global Real Estate Advisor Becky Gray of the Gray Team was sought for her insights in the western Washington market area by Veranda. The design and living magazine aimed to answer the question: Is it the right time to shop for and buy a second home?
Gray said that while the main question she’s been answering from current and prospective clients, is “when the market will be back in full force?” she’s “also fielding many inquiries surrounding how current conditions are impacting pricing and when we’ll be able to return to traditional in-person home showings.”
As a top broker in the Puget Sound area, Gray has vast experience helping her clients find the right home, or second home, under a variety of conditions. But as we all know, the COVID-19 pandemic has created uncertainty around personal and community health, as well as economic turmoil. Addressing both of these issues, she told Veranda that the Gray Team has found success by working proactively. The team has recently implemented virtual tours, to adhere to social distancing measures and ensure clients can comfortably search for homes from the comfort of theirs.
Gray shared with Veranda that she’s noticed a trend in some buyers and sellers pausing 60-90 days to reevaluate their long-term goals in hopes that the effects of the pandemic will be calming down. Still, she said that buyers are looking for second homes at all price levels across the Sotheby’s network, and want to be ready once it’s ok to travel again.
For more insights from Gray as well as what other brokers are seeing in markets like the Hamptons and San Francisco, read the full article from Veranda here >>
Top photo: MLS #1563597