Covid-19 and the West Michigan Housing Market

Posted by Andrea Crossman on Monday, March 23rd, 2020 at 9:21pm.

Welcome back to the Andrea Crossman Group blog. This week, we would like to discuss a few concerns about the effects of coronavirus, or COVID-19, and the West Michigan housing market.

Although Michigan, like every other state, has now seen a number of coronavirus cases, the housing market along the Lakeshore is still strong for buyers and sellers alike. With interest rates at a low that has not been seen in years, it is still a great time to sell or purchase a home as low-interest rates present buyers with great opportunities.

Spring is also one of the best times of year to sell your home. As the weather warms, buyers are more likely to visit available homes in search of their dream house. Although the market is still strong in South Haven, Holland, Muskegon, and many other West Michigan areas, the appearance of coronavirus has had an effect on the industry. As sellers prepare to list their homes, there has been some concern about open houses and allowing strangers into an occupied home.

However, technology has made it easier than ever to shop for homes while still following recommended practices such as social distancing. Many homes are well represented online in photographs and documentation, giving potential buyers an easy way to get a good first impression.

Drone footage can also provide tours of the grounds and surrounding areas in many markets. And, with a wealth of information available on the Internet that includes satellite views of almost any home or neighborhood, it’s easier than ever to narrow down the list of potential matches without leaving your home. 

Coronavirus has had an impact here along the Lakeshore, but the news for buyers and sellers is still good. With fair prices, a strong demand, and lots of interested buyers, it’s a great time to get your home on the market. If you are shopping for a new home, the incredibly low interest rates are making it easier for younger and first-time buyers to find financing that meets their budget.

However, younger buyers are not the only people taking advantage of the low-cost financing. The low rates are also presenting current homeowners looking for a second home or investment property with some great opportunities.

Although we are living through uncertain times, life in West Michigan and across the country still goes on. We all need to work together to reduce the spread of COVID-19 by any means necessary, but, technology has made it easier for many people to move forward with their lives from home.

If you’re ready to move forward with listing your house or property, or you are looking for the perfect waterfront or lakeshore area dream home, please contact the team here at the Andrea Crossman Group and let us help you practice social distancing in your perfect home.  

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