Fewer Homes On The Market Could Mean Bargains For Covid-19 Buyers

Fewer homes on the market could mean bargains for buyers still on the hunt during COVID-19

Real estate market has slowed to a halt, leaving buyer's market during COVID-19 pandemic.

Buying or selling a home in Alberta is becoming increasingly challenging. Some Alberta realtors are seeing sales plummet due to social distancing measures amid the COVID-19 pandemic, just when the spring market is normally heating up.

"My phone isn't ringing as much and there's really no showings," said Brad Van De Walle, a Calgary-based realtor who has been in the business for more than a decade. "Realtors that I'm talking to are in tears because they don't know what they're going to do." Some clients are taking their homes off the market.

"Even with social distancing, we found a lot of people don't want their homes to be shown over fear the virus might come in their home," he said. Some realtors are turning to video conferencing or FaceTime calls to take clients inside a home, or only taking clients to vacant properties.

In the midst of the current slowdown, some people still need to sell quickly — and that could be good news for stable-income buyers. Calgary-based mortgage broker Josh Tagg said there are many factors to take into account such as unpredictable interest rates and the day-to-day uncertainty that comes with the pandemic.

"We will likely see a downward movement in prices, and we'll see sellers who really, really need to get out," Tagg said. "As a buyer, you'd have a stronger negotiating position." With open houses now banned, most listings are being marketed online, said realtor Steve Kabachia.

"We're definitely seeing higher traffic for people browsing online," Kabachia said. "The number of people saying they're ready to buy is down a bit, but those that are ready to buy, they're really committed."

Kabachia said the increased online traffic means that for sellers, it's more important than ever to make sure a listing is well presented with staging and photos. "We're seeing how important it is to have good quality photos," Kabachia said. "Making sure that people who are looking online can see how the space works, the dimensions of the room, and how the space can be used."

Van De Walle said the next 60 days will significantly impact the future of the market. "The benefit of doing it now, is because people are fearful," he said. "Like, look at the stock market. The reason why the stock market went down is because everybody went and pulled out their money. So, if people are sitting here and they have to sell their house and they're worried about not being able to afford it, you might be able to catch somebody and you might be able to catch a good deal right now."

Here at Janssen Homes we’ve got multiple special Builder’s Offers and Discounts on our available homes and upcoming builds. Contact us today to find out more about our special offers and promotions.

Buying A Home During The Coronavirus Pandemic

From virtual showings to online notaries, the homebuying process is finally going digital

Coronavirus might be forcing the long-predicted digital revolution in the real estate transaction

Boston-area realtor Melony Swasey was in the process of closing on a home when the spread of COVID-19 forced state courts to close without notice. Court buildings hold many registries and deeds needed to record the sale of a house.

“We weren’t sure as of first thing in the morning whether we were going to be able to complete the closing,” she said. “We were able to record the closing electronically because our attorney has that technology. The state was allowing limited electronic recordings yesterday so ours got through.”

Situations like this are playing out all over North America. Canadian real estate professionals are having to find innovative ways to finish transactions that were already underway and create a path forward for future sales.

Some consider the traditional real estate transaction to be an antiqued process that relies on redundant paperwork and in-person meetings for things like notarizing paperwork, appraisal, inspection, and final walkthroughs. None of those elements allow for easy social distancing.

Fortunately for the real estate industry and future home buyers, digital technology can solve these problems. The industry has been slow to adopt these technologies, relying on dated traditional methods, but COVID-19 has turned digital technologies from a novelty into a necessity, and it could end up being what finally forces the real estate industry into the digital age.

“We’ve been working on a lot of these technologies and integrating them into our business [prior to the pandemic],” says Ben Nicholson, chief operating officer of homebuilder Janssen Homes. “We always felt like this was where the industry was going long term. I think this situation has just created a catalyst to move forward even more aggressively.”

Virtual 3D home tours have become a staple of home shopping since the outbreak of the pandemic. Zillow allows sellers, agents, landlords, and property managers to create 3D home tours using a panoramic photo taken on a smart phone. The company reported a near doubling of the number of 3D tours created in the week after the pandemic took hold, and a one-day jump of 326 percent on March 20.

Janssen Homes has digital tools for people buying a custom home. Customers can design their homes and preview existing homes using a digital tools, look at a map of where their house falls in a community, and watch videos of the construction site as the build progresses.

As well agents that work with Janssen Homes are doing initial showings over video chat services like FaceTime or Zoom, and in-person visits by appointment are still available for all showrooms with additional cleaning precautions and one to one tours.

We’ve got lots of digital options available for both home buyers on available homes and building your next dream home. Contact us today and we can discuss the digital tools and options available via conference call or Zoom video call.

Spring Kitchen Inspiration

Since we’re all spending a little more time in our kitchens lately, we thought we’d show you one of our favourites. 😍 We love functional design that feels warm AND can seamlessly flow from meal prep to meal storage. Tell us what features you think make for the best kitchens. To find out more about this showhome or our current available home listings , please call (403) 614-6704 or click here to visit our contact page, our representatives are more than happy to video conference or book a call.

Three Major Decorating Mistakes and How to Avoid Them

Get solutions to the challenges that cause many homeowners to put off interior design projects

A huge reason many people don’t get around to tackling a decorating project is because they’re afraid to make a costly mistake. To give you the confidence to start your own dream design, I’ve put together a list of seven major design mistakes that can affect your entire project, along with photos of rooms that do it right. Browse these for guidance and ideas, and then look for an interior designer who’s in tune with your vision and can help make your dreams a reality.

1. Choosing Paint First

While paint is in many ways one of the biggest parts of your design (particularly in terms of pure square footage), that doesn’t mean it should necessarily be the first thing you pick. For example, the well-coordinated furnishings and decor in this room by Design No. 5 could work with a number of paint colours.

Solution: Once you’ve settled on some of your essential fabric furnishings (rugs, pillows, draperies, upholstery), it’s relatively easy to pick a coordinating color from a fan deck or set of paint chips. Finding fabrics you truly love after already committing to a paint scheme is much tougher.

2. Buying Furniture Without Measuring

It’s hard to judge the scale of furniture when it’s sitting on a vast showroom floor. That’s why homeowners are sometimes shocked to find that the beautiful sectional or coffee table they saw in a showroom looks as though it eats up the entire room when it’s sitting in their living room.

Solution: If you know what measurements you’re shopping for, you can let the cold hard numbers guide you when your eyes might be playing tricks. Measure (or even mark with tape) the area available for each major piece so that you can figure out an acceptable size range. Bring these measurements with you when furniture shopping and stick to them. If you fall in love with something out of your size range, ask if it comes in different sizes, or have it measured and bring the measurements home to tape off in your space to make sure it’s a size you are happy with.

3. Never Making a Bold Choice

While nobody wants to spend an extra weekend painting over last weekend’s mistake, being fearful of ever making an adventurous decision can result in a space that feels bland or unsatisfying. In contrast, this bedroom by Slightly Quirky Ltd. shows the excitement that a feature wall and bold accent colours can bring to a room.

Solution: Take a risk every now and then. Rest assured that if you do choose a dramatic wall treatment, you can always layer over it with light and breezy pieces (such as white wall art or neutral-colored furniture) to tame the look until it feels livable. And if you ultimately grow tired of it, you can change it someday.