Real Estate During Shelter-In-Place
The governor has deemed real estate as an ”Essential Business” similar to accountants, attorneys, insurance agents, financial institutions and title companies. There are many questions both buyers and seller’s have about home sales during this time.
Many home sellers are asking, “Should I take my house off the market during Stay-at-Home” order or “My house is currently for sale, should I still accept showings?”
Many home sellers are confused as to what to do. This is a highly personal decision. If the house is vacant, I would recommend keeping it on the market during this time. If you live in your house and have family members that are immune compromised or elderly folks living with you, you may want to consider having your realtor making your property “temp” in the MLS. This means the property is still for sale but it’s temporarily off the market.
In regular times, your house would still accrue market time while it’s temporality off the market. However, during this Stay-at-Home order many Multiple Listing Service providers will make exceptions.
Our local MRED MLS (Midwest Real Estate Data ) & it’s board of managers voted to permanently halt the accumulation of market time for any listings that have been moved into MRED’s Temporary (TEMP) status. So that means if your house’s market time was 32 days and your agent changes the status to Temporary, when your home goes back on the market in say 35 days from now, the market time will remain at 32 days and show as 32 days when your house is re-listed as Active in the MLS.
Many buyers are asking me questions like, “Can I still go house hunting & see house for sale during Governor Pritzker’s “Stay-at-Home” order for Illinois. Should I suspend my home search during Pritzger’s Stay-at-Home order? Again if you or a family member are immune compromised or if you live with elderly family, it’s probably best if you put your house hunting on hold. If you are healthy, the property is vacant & your realtor will likely be able to make arrangements to show you the house.
It’s important to maintain all the health advisories. Try not to touch any doors, surfaces or door handles in the house. Bring hand sanitizer and clean hands before entering the house and directly afterwards. Keep the number of people previewing the home to a minimum. Leave children and elderly folks at home while house hunting or if you aren’t feeling well cancel the showing.
Another good alternative to previewing the home live, is to ask your real estate agent to give you a virtual tour. Your real estate agent can Face Time you do Zoom call while walking through the house room by room. Or the homeowner/ seller can do the virtual walk through directly with the buyer as well.
This is a highly personal decision and I would be happy to discuss individual circumstances with you. Please feel free to call or text me at 847-867-0360 with any questions or concerns or if I can be of service in anyway.
Stay healthy & be well! 👍🙏
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