Inventory is Low, It’s a Great Time to Sell, But…

.ImageHomes are selling faster than free ice cream on a hot summer day, and some days it seems like we are back in 2006 with multiple offers flying across the table. Many sellers have taken notice of the low inventory, and are trying to take advantage of it.  The biggest issue they are having is not to sell their homes now, but instead they now need to confront where they are going to go.  We’ve seen many homes in our office go the first day.  There are more buyers bidding on homes now, and those that have lost the bidding war the first 4 times around come swinging hard and heavy come round 5.  
   So it’s great. You’ve gotten a buyer on your home, and now you have about 45 days to find a house, be the winning bidder on that house, secure a loan and hope the house appraises for the hefty amount you decided to offer on that house because you had no choice but to move. The issue you find is just like your house sold fast, so is everything else you are looking to buy now.  That perfect home that went on the market, well it got 7 offers on the first day and you couldn’t go see it because you have a job and aren’t sitting around waiting for homes to come on the market.

So, it may be a great time to sell, but unless you and your agent are quick on your feet, having something good to buy might not be so easy..

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