REDDING, Calif. — The COVID pandemic is affecting almost every aspect of our lives, including how people buy and sell homes. Experts say the Spring 2021 real estate market is strong due to high demand, low inventory, and low mortgage rates. Real estate was designated as an essential service when the COVID pandemic first started, allowing realtors to continue working as other businesses faced restrictions.
Erik Bildman works as the Director of Asset Management with Sundae.com, an off-market home listing website. He said in his 15 years in real estate, this is the hottest market he's seen with home prices increasing in many parts of the country with no signs of slowing down. Bildman said with people spending more time at home, buyers are looking for larger spaces that include a home office, home classroom, and ample outdoor spaces. He advises sellers to make sure to focus on these areas when listing their property.
"Create a dedicated home office or classroom space in your house, either by carving out a portion of a room or adding a privacy door to a room that typically wouldn't have a door, like a den or formal dining room to give it the optionality of a private workspace," Bildman said. He also emphasized the importance of staging the home with a desk to show buyers areas that can be used to work or study at home.
"Outdoor space is key, right now all of us have a bit of cabin fever spending time at home," Bildman said. "Spending $1,000 on your backyard, greening up the lawn or adding plants along the fence line, or painting your patio, give your backyard a little appeal, and improving the aesthetic will go a long way."
Bildman said the properties selling the fastest are turn-key, refurbished properties. Bildman said a marketplace like Sundae.com is a good option for an owner of a property that needs some improvements. They market properties to pre-approved local investors. Their website also features a blog with tips for home improvements and the current state of the real estate market.
Bildman said prices are up in the Northstate because it is still relatively affordable compared to coastal areas. According to the California Realtors Association, between 2020 and 2021 home prices were up dramatically in several Northstate counties.