San Francisco Chronicle - (Sunday)

Sound Off: How eager are home buyers for inperson tours?

-

A: If you asked me in April, “Do you think buyers are eager to go to open houses right now?” I would say no. But May has seen a resurgence of buyer interest in San Francisco real estate, especially in the entrylevel part of the market.

While buyers cannot attend traditiona­l open houses, they are viewing properties in many different ways. Buyers are able to attend virtual open houses, as well as schedule private showings.

Buyers who need to buy are not waiting around and COVID19 are not deterring them. Our buyer clients, and those buyers who are currently in contract on our listings, often need to buy now.

The reasons range from having a baby on the way, to accepting a new job in San Francisco or realizing that more space is needed after sheltering­inplace.

I’ve also heard buyers say that they are jumping into the market now because they believe that there is less competitio­n. However, our last two listings that went on the market in midMay received multiple offers and will each sell above the asking price.

As shelterinp­lace is lifted, I see the trend continuing with more buyers looking to purchase and take advantage of the historical­ly low interest rate environmen­t. It has been encouragin­g indeed to witness how the dream of home ownership has survived the pandemic thus far. I hope it continues.

Ron Abta, Polaris Realty, 4155957661, ron@polarisre.com.

A: The immediate withdrawal of many properties at the beginning of March and the sudden halt of showings and much of real estate activity left buyers with only the option to view properties virtually. While the sudden shift in how we do business showed real estate’s adaptabili­ty here in the Bay Area, there is absolutely no substitute for seeing a home in person. So while inventory retracted and inperson showings became impossible, buyers’ desire to see homes inperson were unchanged. Many of the buyers my team and I are working with are ready to see properties in person, but the lack of inventory is thinner than it was prior to the shelterinp­lace order. Inperson showings are now requiring a signed property entry advisory disclaimer and sometimes a preapprova­l letter prior to being able to see a home in person. This has not deterred any of our buyers, nor should it. We have strict showing guidelines that are there to help protect the safety of our clients and ourselves.

Lastly, there is increased buyer motivation right now as the importance of home ownership is being felt and experience­d everyday as our lives were forced into our tight bubble called home. Having a space for an office, a yard or even a desire to not share walls with adjacent homeowners is top of mind, and even drawing new buyers into the market.

Ashley Henderson, Compass, 4158412118, ashley.henderson@compass.com.

A: I think buyers, like all of us, should make efforts to stay home and shop online.

While government is quick to promise a return to normalcy, we should put the health and safety of our community first.

There are many new features while searching for your home online that can replace the traditiona­l facetoface experience. We are providing virtual open houses with video tours and live streaming on social media.

My advice is to visit the property website and call your agent.

We have plenty of active buyers searching for their next home during the pandemic. This new way of viewing homes seems to be a winwin, as buyers don’t visit a house until they are financiall­y approved, familiar with disclosure­s and certain of their interest.

Once you identify a property, an agent is standing by in the driveway while you enjoy a private tour of the home with masks, gloves, and in some cases a temperatur­e check.

Social distancing is more important than ever and the traditiona­l open house may not return until 2021.

C.J. Nakagawa, Golden Gate Sotheby’s Internatio­nal Realty, 4154072151,

sf2marin@gmail.com.

 ??  ??
 ??  ??
 ??  ??

Newspapers in English

Newspapers from United States