Slim pickings is the word in the real estate market industry. 

“The real estate industry inventory is down nearly 30% in the early months of 2021, compared to the previous year.” (Ramsey Solutions).  

Low inventory means being ready to jump on the property if it meets your criteria. You may have to give up some of your “nice to have” for meeting your needs. We are finding out that in our area clients are settling for less and tweaking the property to meet their “nice to have.”  

We are also seeing many home tear-downs and building on the property, as many times the property is worth more than the house.

Buyers do not be afraid to expand your search. Sometimes, you can buy outside a gated community for less and buy a lot inside the gates to acquire a golf membership. (This may apply to the buyer finds a home on the lake outside a gated community).   

We cannot stress enough to get pre-approved for a loan ASAP. Sellers like to see the loan approval letter when an offer is presented. 

This is a seller’s market. You are in the driver’s seat, but it is very important you work with an experienced real estate agent that will know your area and knows the local market. Pricing your home too high can be detrimental and will raise red flags to buyers if it sits on the market too many days. Our clients will ask us, what is wrong with the property if they see Days on the Market (DOM) exceed 30 days. You as the seller have the upper hand and your real estate agent will guide you though the purchase and sale contract. The agent may suggest taking less money if compared to other contracts that have more contingencies. Top dollar is not always the best and more profitable way.     

“While we still face economic and health challenges ahead, it is no doubt that the nation will continue to recover from this pandemic and an improving economy will continue to prop up the housing market competition. Industry experts believe the housing market will remain strong and is set to break more records in 2021.” (Ramsey Solutions)

THOUGHT FOR THE DAY: The big secret in life is, there is NO secret. Whatever your goal; You can get there if your’re willing to work. (Oprah Winfrey)