As this weekend draws to a close, I'm beginning to get the feeling that there's change in the air. Do you feel it? More activity. Double and triple offers. Yes, some on foreclosures, some on short sales, but yes, some on traditional transactions too!
In Chicago's western suburbs we're slowly depleting the existing inventory. Stagnant inventory is being overlooked. New inventory is slow coming to market as sellers are reluctant unless it's an absolute necessity that they move. It's not surprising then that homes priced correctly are selling quickly in double and triple offers. The multiple offers are a result of buyers being in the marketplace SO long, that they certainly realize a good value when they see one and jump all over it.
There is anxiety in the air. With less than 5 months left for 1st time homeowners to take advantage of the $8,000 tax credit that our government is offering, that leaves a little less than four months to find a home and write a contract in order to close before the deadline. This in addition to relocation renters who are on the sidelines, trying to decide what to do and are prepared to jump in as soon as they feel the bottom has been reached has created the current climate.
If you're thinking of selling your home, but holding off, you may want to think again. This just could be one of the best times in a long while to put your home on the market. Just remember - Declutter, clean, stage & price and then clean some more!
Oh, and two words to those that are part of the stagnant inventory that is being overlooked. Evaluate your home and listen to feedback. Remove wallpaper! Clean up your landscape. Get rid of any odors! Any job that you've been putting off because it's too much work to do - a buyer will look at and think it's too much work multiplied by 5. If you're not willing to do the work, then think - price reduction.
Comments(0)