Chris Stuart, CEO and President of Berkshire Hathaway HomeServices as well as CEO of HSF Affiliates LLC, based in Irvine, California, which operates and manages real estate brokerage networks sat down to talk about the current market, where to expect opportunistic buyers, and more.
Chris says that the biggest pain point is still the lack of new listings on the market. However, more opportunities will begin to arise in metropolitan areas, which will bring more buyers to the market who hadn’t considered buying before the pandemic.
More properties are being sold sight-unseen as people begin to change location or think about a second home.
“We have a company in the Florida Keys where we’ve sold four properties sight unseen, and we’re seeing that elsewhere in the U.S., too. We’re seeing double-digit appreciation on the Gulf side of Florida, in the Keys and parts of the Carolinas. Areas outside Philly, estate properties in Central New Jersey, areas where listings were sitting for hundreds of days are becoming 20- to-30-day rentals.”