So far this Spring we have seen sales activity slip about 5-7% from last year at this time. Not because of lack of qualified buyers, but due to the lack of homes for sale. One of the biggest logs in the damn holding back a flood of new listings is the seller's "Move Up Spiral". With many homes selling quickly, sellers are afraid to put their home up for sale until they find a home to buy to avoid an "intermediate" move. Sounds legit, but if all sellers were afraid to put their homes on the market there would be very few, if any, homes to purchase.
IF... sellers would let us know of their intent or interest in selling (even if they withhold putting it on the market), our matchmaking skills would take over creating sales... and additionally breaking up the log jam! These deals are called "created sales", and we have seen a spike in them by 10% or more! Also, it is becoming more common to give sellers both extended occupancy dates and closings, to ensure they have somewhere to go or a new home to move into.
Things to remember:
The values of well maintained homes are quickly rising
Almost 70% of all home listings are selling within 90 days or LESS
You when know when your home is priced right by the amount of interest...If you price your home right, BE PREPARED FOR MULTIPLE SHOWINGS, and from that the offer(s) will come!
Have a great day!
Nikole
