In A Rush to Find Home
2020 was a year that pushed many people to their limits in all aspects of their lives. Whether it was being homebound for months on end, or teaching kids from the kitchen table, or finding a safe place to experience the outdoors, everyone was searching for the best place to feel at home.
Home has taken on new meaning to so many of us. It is the heart of our family, the center of our work environment, our safety net from COVID, and our respective source of hygge. In a rush to find new homes, city dwellers ventured out to more rural areas they previously no bonds looking for a place to call home in all sense of the word. Frequently "jumping" without proper guidance and thorough due diligence, some families are now questioning their spontaneity, as detailed in a recent article from the Wall Street Journal.
Hot real-estate markets across the U.S. led to several buyers snapping up homes without performing due diligence. Read in The Wall Street Journal
As a broker who believes in doing my homework for both buyers and sellers, I always advocate inspections, meetings with proper governmental agencies, and spending time in any area you are interested in relocating to. Many 2020 buyers made offers without following these critical actions. 2020 saw the average home value in the U.S. increase to $340,000, and in Sonoma County across all price categories, values increased, and inventory was limited. This was a challenge for many buyers.
2021 will see continued low rates and low inventory, creating another challenge for home buyers. Even so, don't give up your rights as a buyer. Be diligent in your inspections and knowledge of your contemplated purchase. Seek seasoned professionals to assist you, and don't be pushed to act without certainty.