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Real Estate Amid COVID-19
Anyone else either buying or selling currently? What has your experience been having to deal with the limitations set forth due to the current pandemic?
We put our house on the market last Thursday and by all accounts, it has been incredibly popular on Zillow. According to some research houses that generate at least 280 views and 30 or more saves tend to receive a competitive offer within 14 days of listing. We've had ten times the views and about 2.5 times the saves but only one tour which causes me a bit of concern. Are the inflated numbers simply due to the extra time people now find themselves with or are the limited showings due to the rules in place due to the virus?
I'm also concerned that the economy will negatively effect our ability to purchase a home in San Diego that we'd be happy with. Having spoken with a lender earlier this year we'd be comfortable with around a $1.3-1.5m purchase using the VA jumbo loan. Fearful lenders have now placed "in-house" rules limiting VA jumbo purchases to $1m. Was hoping to purchase our final home once we head West but I'm thinking that may no longer be possible.
Anyone else feeling the pain that the uncertainty has placed upon the real estate market?
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