How did mobile homes sell throughout Sarasota County during the year of 2020?
Did COVID-19 have an effect on the market?
And if it did, was it positive or was it negative?
I believe we can all agree that the past year was one that we will not soon forget because it was filled with uncertainty that no one ever had seen before in their lives.
With the arrival of the pandemic caused by COVID-19, uncertainty has taken over the mobile home housing sector. It is difficult to forecast exactly how the market will be affected, but it seems obvious that the duration of confinement and the time we take to recover normality will be one of the main factors in the final effects.
But regardless of the duration of the problem, it seems clear that most of the main indicators in the evolution of the price of manufactured housing will be affected. The situation of the mobile home sector prior to the pandemic already showed symptoms of a slight fall in housing sale operations, as well as a price stagnation, and even a decrease in some areas. In fact, some experts think that the real mobile home sector can be reinforced by the COVID-19 crisis.
The dynamics have changed from the moment the pandemic reached our country, all sectors of the economy have been forced to transform, and technological acceleration came more strongly, but how has COVID-19 affected the housing market in the US?
The residential real estate market has been affected by the COVID-19 pandemic, which broke into a time when the cycle of this market was in a phase of maturity. The activity descended sharply in the first months of the health crisis, affected by the restrictions adopted.
Mobile home sales for the year reflected much of this, as there were several unusual trends that came up that we had not seen before on our end.
Whether you are interested in buying or selling a mobile home in Sarasota, it is important to remember that we are working within the affordable housing industry.
This industry is not affected by the housing bubbles or crashes that traditional real estate continues to see.
As mentioned in several of our previous videos, if a mobile home is priced correctly and is marketed right, then usually the home will not have any issue in selling so long as both of those points are in alignment with what the community can support.
What we mean by this is when a mobile home is priced too high for what other homes in the community are being sold at or listed, it usually tends to sit on the market for longer than if the home was priced correctly, right from the beginning.
Always remember, to make it as easy as possible for the home buyer to buy from you.
If you are ever confused or unsure of how the home should be priced, then feel free to reach out to us here at The Mobile Home Dealer, as we will always be happy to help you accurately price your home for a fast sale!
Throughout 2020, we saw fewer homes come up for sale than we had expected.
We believe this had much to do with the concerns of COVID and that many snowbirds were hesitant in their thinking of if they were looking to sell or to come down for the season like normal.
So instead of acting one way or the other, many decided to do nothing while waiting out the situation that we have, unfortunately, all gotten used to at this point.
This has continued throughout the start of this year with a slight slack of inventory throughout the Sarasota County area.
Even though there is a slight lack of inventory at the moment, this does not mean that the homes that are currently on the market are able to demand a much higher price point. Homes that did go on the market and were priced correctly, flew off the shelves throughout the second part of the year, which was great to see!
All in all, when reviewing the buying and selling part of the mobile home industry throughout Sarasota, we can all agree that it was a very unique year, but one that continued to show that when a mobile home is priced right and marketed correctly, they sell no matter what else is going on in the world at this time.
The coronavirus pandemic has forced real estate agencies and mobile home brokers to innovate and do it at a rate never seen before. The housing market is currently in a situation in which if they do not innovate, they may not survive.
Some of the technological advances that are being implemented are:
Visits in virtual reality. With this technology, the possible buyer could experience how he would feel in his new home without moving.
We, here at The Mobile Home Dealer, utilize this type of technology through the utilization of virtual tours. Virtual tours are videos that show the potential Buyer everything there is to see about the property so that they have a better idea of exactly what the home is without ever having to step foot in the home
The signing of virtual contracts. Virtually signed contracts so that the agent, the seller, and the buyer do not have to move and/or schedule a meeting. Each can sign the contract with their electronic device from home or office.
Virtual meetings. The commercial team can meet and exchange opinions, as well as see the evolution of planning in a virtual way and without any physical contact.
This is only the tip of the iceberg in terms of the type of innovation that we could see coming from the real estate and manufactured home industry.
When an unforeseen event of the magnitude of COVID-19 occurs, difficult moments are presented for the economy and the population, but when things return to normal this is never as before. Hopefully, the new normality will change for the better.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home buyers and sellers get to a better place in life.