Buyers and sellers in Tallahassee's real estate market face new hurdles

Posted at 6:26 PM, May 13, 2020
and last updated 2020-05-13 18:26:39-04

TALLAHASSEE, Fl.a (WTXL) — More than three in four potential sellers plan on putting their homes on the market as the country rebounds, according to the National Association of Realtors.

As the real estate market rebounds in Tallahassee, there are some changes you need to know about.

Anniesha Gallon lives in the Tallahassee area and says there are some changes that should be expected.

"It's kind of hard to shop around right now," said Gallon.

In March, Gallon was about to close on a home when her new baby boy came early.

"It kind of put a halt on trying to get everything processed," Gallon said.

And because the pandemic put extra pressure on the economy, the original deal on a new home she was about to finalize fell through.

"Be prepared for any unexpected financial issues," said Gallon. That's the advice she gives to other people looking to buy right now.

But sellers have to plan ahead too.

Jen Campbell is a realtor at Allison James Estates & Homes.

"Even though it's slowed down, it hasn't stopped," Campbell said.

She's taken home showings online.

"People are always going to need a house, so I'm just doing my part," said Campbell.

What happens when people want to see a home in person?

Campbell says she's armed with Clorox and extra masks to keep her sellers, potential buyers, and her own family safe.

Gallon is continuing her home search, protecting herself from the virus, and trying to raise a family. She says she's had some help.

"God and prayer," said Gallon. "And I have a wonderful support system.

Capbell and Gallon add if you're trying to buy right now, you'll likely have less competition for that dream house you're eyeing.

There might be fewer options with new listings down 27 percent, according to data from Zillow.

Finally, those with weak credit scores may have a harder time getting a loan. Credit scores of 680 or higher will have better luck.

This is just one of many stories we're telling to help you and your family rebound.

You can check out all of the stories we've done on the Rebound Tallahassee tab on our website.