Washington County Weekend Post

Time will tell whether the real estate market continues to boom during the COVID-19 pandemic. While it has presented unprece- dented challenges to buyers and sellers alike, it is still possible to buy a home during the pandemic. Home prices were continuing a more than decade-long climb in January 2020, according to the Case-Shiller National Home Price Index, and interest rates are low, enticing buyers. In order to be successful, buyers will need a level of comfortability with technology and an agent with the determination to get the job done. Get Comfortable with Technology Due to the need to socially dis- tance and disin- fect, in some areas buyers may be prevented from touring homes that are occupied by the owners. Agents also may find it difficult to main- tain social dis- tancing during w a l k - t h r o u g h s. This is where technology can help transform the buying pro- cess for the COVID-19 era. Online virtual tours and photo w a l k - t h r o u g h s, along with video conferencing apps such as Zoom and FaceTime, can help you get a look at the property when you can't go in person, and to connect with your agent when it might not otherwise be safe to do so. In April 2020, Zillow reported that the number of virtual tours created with its app doubled. If you're interested in a home that doesn't have a virtual tour, ask your agent to contact the seller's agent about the possibility of arrang- ing for a virtual tour to be made. Know the Rules A new part of the home-buying process that has come about thanks to the pandemic is a COVID-19 contingen- cy clause in the purchase contract. Depending on how the clause is written, it can allow for such circum- stances as a buyer who loses their job being able to extend the closing date or receive a refund of the earnest money. It also could allow buyers to back out if the home doesn't measure up to the online photos. Ask your agent or real estate attorney about adding such a clause to your contract. The closing process also has been affected. Closing has long been an event that involved many parties, including the buyer, his attorney, a title agent, notary and other support staff. During the pandemic, buyers have found themselves closing at a remote location in an office that has been sanitized, while communicating to the real estate professionals involved in the transaction via technology. Proceed with Caution The Washington Post urges buyers to proceed with caution, citing uncer- tainty regarding how COVID-19 will ultimately affect property values, as well as unemployment and the economy as a whole. Among their tips for buyers right now are spending well within your price limit, looking for deals on homes that will allow you to add value to the home, shopping for homes in good neighborhoods to protect value, and being conservative with your monthly budget when it comes to getting a home loan. © ADOBE STOCK Buying during a Pandemic SUNDAY, SEPTEMBER 13, 2020 • WASHINGTON COUNTY POST • 5B GMTODAY.COM HARTFORD NEW CONDOS COMING HARTFORD NEW CONDOS COMING 2BR 2BA 1or2 car garage. 1st fl Snackbar,Tray Ceiling,Master BA,Walkin Clo,Covered Porch,Cul-De-Sac.Exposed lookout LL plumbed for BA. Private-no buildings behind yours 3 left Summer Occup - Choose Finishes 1000-1500sf. $189,900-$259,900+ Save - Buy Direct from Builder 414-791-1516 267123001 REAL ESTATE Place your ad 24/7 @ www.gmtoday.com/classifieds Southeast Wisconsin For assistance call 262.306.5000 or conleyclass@conleynet.com

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