Tara Mortgage Services Featured Blog: Pros and Cons of Listing Your Home For Sale During the COVID Outbreak

Dated: 05/27/2020

Views: 163

Springtime is the most popular time for homeowners to list their homes for sale. However, given the health crisis (and financial crisis for many), you may be wondering if it's still a good idea to sell your home this spring. What are the pros and possible pitfalls of selling your home during the COVID outbreak?

Here are two sides to that coin.

Pros of Selling Your Home This Spring

Mortgage rates are currently competitive, and many experts believe they'll hover on the low end of the spectrum. With rates so low, and the uncertainty of when they will rise again, homebuyers will be looking to capitalize on this opportunity. This puts your listing in a great position, and finding a buyer despite the challenges should still be easy. Looking at it from a mortgage rate perspective, it's a green light for selling your home this spring.

There's talk that we are heading towards a recession and for a good reason: COVID-19. However, we're are not currently in that position, so that means that consumers are likely still feeling confident about making large purchases. Once the economy turns in three, six, or 12 months from now, homebuyer's attitudes are likely to change. Listing your home during a recession could mean you will get less than the asking price you want.

Cons of Selling Your Home This Spring

On the other hand, there's good reason to wait on listing your home this spring. With the nation practicing heighten caution for personal health and the guidelines from the Centers for Disease Control (CDC) to socially distance to minimize exposure to germs, having people come to your home for a showing is not a wise idea.

Fortunately, there are alternatives to having a traditional open house. Virtual showcases were already popular, and many real estate agents offer this feature. Another option is to vacate the home while your real estate agent shows it to a prospective buyer. But that is not always feasible and may not be something that all the participants are comfortable with.


Without a doubt, selling a home this spring given our current circumstances is challenging, and unlike any other real estate environment we've experienced before. However, much like other markets, home buying and selling are always occurring. Are you selling your home to buy another? Contact Tara Mortgage Services to lock in your rate too!

Latest Blog Posts

How to Get Rid of Toxins in Your Body (Featured Blog From Ivee)

Toxins are all around you. You consume them in the food you eat, fluids you drink, and the air you breathe daily. Of course, you know that toxins are harmful. But what are they, and why are they so

Read More

Turning a Bedroom into a Lux Bedroom

For most of us, our bedroom is little more than a place to sleep and relax. However, just because it’s always been that way doesn’t mean that we have to settle for drab and dreary.One

Read More

Tips for Buying Your Home

When you’re house hunting, focus on the things that will improve your quality of life.There are so many factors that go into a home buying decision that it can make your head spin&mdash

Read More

Is Refinancing With Poor Credit Possible? (Tara Mortgage Services Featured Blog)

With rates at incredible lows, Americans across the country are refinancing their mortgage. But if you have poor credit, you may be wondering if it's possible. Refinancing with a low credit

Read More