Buyers are no longer looking for ‘ open concept ’— having space to work or learn remotely has become a priority .”— Denise Fusaro of Realtors-Westerly , denisefusaro . randallrealtors . com
“ COVID made people realize that their home is truly the most important thing in their lives . Not only the location , but also the size and floor plan . Bonus rooms and home offices became paramount and a location outside of a larger city that offers the ability to get outside is key .” — the Kirk Schryver Team at Residential Properties , LTD , kirkschryver . com
“ I represented several sellers that decided to sell now instead of waiting for next year . My last four sales of 2020 involved buyers from out of state . Several sales were with local buyers moving into first homes or downsizing . It was a mixture , and many had a sense of urgency .”— Cathy McKone Wicks of Hogan Associates , hoganassoci atesre . com
“ I feel that , with most people spending more time at home , they are realizing what works for them and perhaps what might be most important . I have lots of folks who are downsizing and , with the market being what it is and having such great rates available , many are cashing out of their starter homes and movin ’ on up !” — John Moretti of Williams and Stuart , williamsandstuart . com
Do you have any advice for buyers or sellers during this time ? “ Best time in history for sellers to sell . There are advantages for buyers as well , including historically low rates , extremely high rents and no end in sight to the appreciating market .” — Michael Russo of RI Real Estate Services , 401sold . com
“ If you are thinking about selling , now is the time with how low the inventory on the market is currently . My advice to buyers is take advantage of historic low interest rates .” — David Travers of Keller Williams East Bay , zillow . com / profile / david % 20travers
“ Buyers need to be ready to buy , get pre-approved and have a buyer ’ s agent helping you look for ( and ready to write ) an offer when you see a property that will work for you . Be as available as you can to get to a showing quickly . Sellers , if you have to sell in order to buy , consider alternative living arrangements if your house sells before you find one . It is a difficult decision to list if you have not found a place to move in to .” — Denise Fusaro of Realtors-Westerly , denise fusaro . randallrealtors . com
What do you foresee for the future of the housing market post pandemic ? “ I feel as long as the interest rates remain low , the market is going to continue to be fast-paced .” — David Travers of Keller Williams East Bay , zillow . com / profile / david % 20 travers
“ The market is expected to remain robust for the foreseeable future . Rates are predicted to only rise to 3 percent , inventory will continue to be low and demand is sky-high . I ’ ve received several referrals from Boston of folks seeking the coastline , the amenities and the quality of life that Rhode Island affords . It truly is a great time for Rhode Island real estate !” — Sarah Huard of Mott and Chace Sotheby ’ s International Realty , sarahhuard . com
“ I feel that there will always be sellers that need to sell as life doesn ’ t stand still . Eventually , the market will become more balanced . Pay attention to sales and watch the progression of the market and be ready to move when the time is right .” — Cathy McKone Wicks of Hogan Assoc iates , hoganassociatesre . com
“ I believe buyers ’ wants and needs will continue to evolve with a focus on more time spent at and near home and with families living closer together . As the frenzy for moving calms , more sellers will put their homes on the market knowing they can find somewhere else to move . Prices will once again stabilize , and interest rates will too . I do fear the economy will take longer to recover and that we may see foreclosures and short sales rise again .” — Denise Fusaro of Realtors-Westerly , denisefusaro . randallre altors . com
“ I see the market continuing to use technology with the goal of streamlining the transaction and creating fewer friction points in the process . 3D tours , less paper , virtual consultations and appointments when needed should be here to stay .” — Nick Slocum of Slocum Real Estate and Insurance , nickslocumteam . com z
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