{"id":3078,"date":"2020-07-16T05:00:37","date_gmt":"2020-07-16T10:00:37","guid":{"rendered":"https:\/\/nwiloanguy.com\/blog\/does-your-home-have-what-buyers-are-looking-for\/"},"modified":"2020-07-16T05:00:37","modified_gmt":"2020-07-16T10:00:37","slug":"does-your-home-have-what-buyers-are-looking-for","status":"publish","type":"post","link":"https:\/\/nwiloanguy.com\/blog\/does-your-home-have-what-buyers-are-looking-for\/","title":{"rendered":"Does Your Home Have What Buyers Are Looking For?"},"content":{"rendered":"<p><img data-recalc-dims=\"1\" decoding=\"async\"  src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/07\/15160940\/20200716-KCM-Share-549x300.jpg?w=358&#038;ssl=1\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"Does Your Home Have What Buyers Are Looking For? | Simplifying The Market\" style=\"margin-bottom: 5px;clear:both;max-width: 100%\" \/><\/p>\n<p>There\u2019s great opportunity for today\u2019s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. <a href=\"https:\/\/www.realtor.com\/research\/housing-market-recovery-index-trends-july-4-data\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">According<\/a> to Javier Vivas, <em>Director of Economic Research<\/em> at <em>realtor.com<\/em>:<span id=\"more-42678\"><\/span><\/p>\n<blockquote>\n<p><em>\u201cSellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.\u201d<\/em><\/p>\n<\/blockquote>\n<p>For homeowners who need a little nudge of motivation to get back in the game, it\u2019s good to know that buyers are <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/08\/best-time-to-sell-when-competition-is-at-an-all-time-low\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">ready to purchase<\/a> this season. After spending several months at home and re-evaluating what they truly want and need in their space, buyers are ready and they\u2019re in the market now. Lawrence Yun, <em>Chief Economist<\/em> at the <em>National Association of Realtors <\/em>(NAR) <a href=\"https:\/\/www.nar.realtor\/newsroom\/strong-majority-of-realtors-say-market-is-in-recovery-phase-of-pandemic-as-buyers-return\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">explains<\/a>:<\/p>\n<blockquote>\n<p><em>\u201cA number of potential buyers noted stalled plans due to the pandemic and that has led to more urgency and a pent-up demand to buy\u2026After being home for months on end \u2013 in a home they already wanted to leave \u2013 buyers are reminded how much their current home may lack certain desired features or amenities.\u201d<\/em><\/p>\n<\/blockquote>\n<p>The latest <em>Market Recovery Survey<\/em> from NAR <a href=\"https:\/\/www.nar.realtor\/sites\/default\/files\/documents\/2020-market-recovery-survey-07-09-2020.pdf\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">shares<\/a> some of the features and amenities buyers are looking for, especially since the health crisis has shifted many buyer priorities. The most common home features cited as increasingly important are home offices and space to accommodate family members new to the residence <em>(See graph below)<\/em>:<a href=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/07\/15160904\/20200716-MEM-ENG.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-42679\" src=\"https:\/\/i0.wp.com\/files.simplifyingthemarket.com\/wp-content\/uploads\/2020\/07\/15160904\/20200716-MEM-ENG.jpg?resize=650%2C366&#038;ssl=1\" alt=\"Does Your Home Have What Buyers Are Looking For? | Simplifying The Market\" width=\"650\" height=\"366\" \/><\/a>The survey results also show that among buyers who indicate they would now like to live in a different area due to COVID-19, 47% have an interest in purchasing in the <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/05\/13\/a-surprising-shift-to-the-burbs-may-be-on-the-rise\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">suburbs<\/a>, 39% cite <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/02\/is-the-health-crisis-driving-buyers-out-of-urban-areas\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">rural<\/a> areas, and 25% indicate a desire to be in small towns.<\/p>\n<p>As we can see, buyers are eager to find a new home, but there\u2019s a big challenge in the market: a lack of homes available to purchase. Danielle Hale, <em>Chief Economist<\/em> at <em>realtor.com<\/em> <a href=\"https:\/\/www.realtor.com\/research\/video-weekly-economic-and-housing-market-update-july-2-2020\/\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">explains<\/a>:<\/p>\n<blockquote>\n<p><em>\u201cThe realtor.com June Housing Trends Report showed that buyers still outnumber sellers which is causing the gap in time on market to shrink, prices to grow at a faster pace than pre-COVID, and the number of homes available for sale to decrease by more than last month. These trends play out similarly in the most recent week\u2019s data with the change in time on market being most notable. In the most recent week homes sat on the market just 7 days longer than last year whereas the rest of June saw homes sit 2 weeks or more longer than last year.\u201d<\/em><\/p>\n<\/blockquote>\n<p>In essence, home sales are picking up speed and buyers are purchasing them at a faster rate than they\u2019re coming to the market. Hale continues to say:<\/p>\n<blockquote>\n<p><em>\u201cThe housing market has plenty of buyers who would benefit from a few more sellers. If the virus can be contained and home prices continue to grow, this may help bring sellers back to the housing market.\u201d<\/em><\/p>\n<\/blockquote>\n<h3><strong>Bottom Line<\/strong><\/h3>\n<p>If you\u2019re considering selling and your current house has some of the features today\u2019s buyers are looking for, let&#8217;s connect. You\u2019ll likely be able to sell at the best price, in the least amount of time, and will be able to take advantage of the <a href=\"https:\/\/www.simplifyingthemarket.com\/2020\/07\/15\/mortgage-rates-hit-record-lows-for-three-consecutive-weeks\/?a=375140-ca8522ad04357da9549c08492a932f70\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">low interest rates<\/a> available right now when buying your new home.<\/p>\n<p>Source: New feed<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There\u2019s great opportunity for today\u2019s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com: \u201cSellers continue returning to the market at a cautious pace [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3079,"comment_status":"false","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10157519356927224_105287467588662":"","twitter_15771620_15771620":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[54],"class_list":{"0":"post-3078","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-local-info","8":"tag-100-financing","9":"entry"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Does Your Home Have What Buyers Are Looking For?&#8212;NWI Loan Guy Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nwiloanguy.com\/blog\/does-your-home-have-what-buyers-are-looking-for\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Does Your Home Have What Buyers Are Looking For?&#8212;NWI Loan Guy Blog\" \/>\n<meta property=\"og:description\" content=\"There\u2019s great opportunity for today\u2019s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. 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