Early this year, I decided the time had come – I was ready to downsize my home. The idea of a manageable yard and fewer repairs seemed heavenly. I had fantasies about having less lawn to mow, fewer rugs to vacuum, and more time to enjoy the beautiful surroundings of Cape Cod. Packing up one’s life and moving it to a new location, even nearby, was as daunting as it comes for me. On top of that, I had no idea that my move would occur in the midst of a global pandemic!
Behind every front-yard “For Sale” sign is a story. We visited my grandparents here every summer. My parents watched my son assemble elaborate wooden railroads on the same floor where I’d sent GI Joe on countless missions, when I was his age. It was a circle of life – a circle that was opening up a new path. Our For Sale sign signaled a change in lifestyle. Downsizing. Simplification.
Years ago, I met a realtor who impressed me enough to make note of her name, knowing one day I might need to call upon her expertise. Earlier this year, she sold my house in less than one week. Closing dates were set. The simpler life I sought seemed right around the corner. At the same time, a new virus was raging in China and spreading to Europe. It began to break in the news like several prior outbreaks that hadn’t made a major impact on the US. Our hearts went out to those affected. Air travel was still prolific.
The reality of the coronavirus began to set in. It was new … different … unknown. Was it a “bad flu” or was it more serious? It wasn’t long before we had to sequester ourselves from one another to slow down its spread. Large death-tolls were predicted. There was no vaccine and no way to tell if others might be infected. It was an invisible enemy chiseling away at our way of life. Potential buyers of my house showed up looking like surgeons, not home buyers. Some of these visitors wanted signed waivers regarding my health status.
The term “social distancing” became part of our lives, as did wearing masks – ordinarily associated with the medical community. Stores closed. Restaurants closed. Movie theaters closed. Concerts and parades were canceled. Everyone was told to stay at home. There sat my house. Under contract with a deposit in escrow, it seemed safe enough. My house didn’t care about viruses, but the real estate market did. Wall Street plummeted. Unemployment soared. But my house seemed no different.
My buyer backed out, forfeiting his deposit. Realtors were losing sales at an alarming rate. My house hadn’t changed, but no one wanted it during a pandemic. It seemed as though everything had been tainted by the coronavirus. As I tried to get rid of excess furniture I no longer needed – no one wanted it. One person told me it might be infected. Charitable organizations specializing in giving furniture to those in need were forced to close. As much as free furniture might have benefited someone in need, the presumption was that a used couch might contain the coronavirus.
All of a sudden, I was in a panic mode. I’d cleaned out my excess belongings and furniture in preparation for this new simpler life. Much of my remaining possessions were boxed up, labeled, and stored in my garage for easier moving. But now I had no prospect of moving. Worse yet, I had already found a terrific house to buy and begin that easier, relaxing life. These sorts of cancellations seem to be part of the new normal as people became far more hesitant about big investments like buying a home.
My realtor, the one who had impressed me so much years earlier, swooped in and restructured the deal, bringing the former buyer back to the table. Of course there is no “table” – meetings are all virtual as we still work to quell the spread of the virus. Brief visits to my attorney’s office were as foreign to me as standing in line to enter a supermarket. Behind locked doors, the legal team slipped documents through a crack in the door and I signed them on a table in the hallway – wearing a mask, of course.
Take the Time to Find a Great Realtor
My realtor’s expertise resulted in a new deal and new closing date, which quickly showed me the value of having a great realtor! Many say real estate is a “waiting game.” That is not true. Real estate is a “strategic game.” The longer a house sits on the market, its perceived value drops. Make sure your realtor provides you with a thorough market evaluation of your home to include your neighborhood, other houses for sale that are similar to yours, and ones near yours. Everyone wants the most they can get out of their home’s sale, but this cautionary age is making flexibility a key factor – starting with a reasonable price.
Some owners tend to overprice their homes due to sentimental attachments. A kitchen renovation can add more value than your cost, but the new fence around your garden probably has little bearing on your home’s value – even if you adore your garden. A good realtor will look at the facts and present a price that will be attractive to buyers in your market as well as you.
Here’s my best advice: If you have items to get rid of (maybe your attic is full of treasures and the basement has some clutter), start now. Even if you aren’t thinking of selling yet, start the clutter-clearing now. I had to do it all at once and it was a huge, awful job! If I had it to do over, I’d have spent an hour each week getting rid of a few things here and there. Over time, you’ll be amazed at how much a little effort can achieve. Waiting until the end only adds stress and labor to an already stressful situation.
Selling your home during the coronavirus pandemic is possible, but you’ll benefit from a great realtor, a flexible mindset, and lots of patience. Best of luck and stay safe.
By Peter Schmeck
