inventory: Priced out of the market
- 08/30/21 06:08 AM
I have, along with many others, been watching the housing market go on a tear for the past 2 years. Low inventory and low mortgage rates have combined to push housing prices up quickly. As a result I have seen potential buyers just give up looking, having been priced out of the market. I have 2 clients, one young couple had been looking for a home in a rural area with a top price point of $265,000. When we started looking over a year ago there were some homes available and we made good offers on several, only to be way out … (4 comments)
inventory: Bueller? Bueller?
- 08/25/20 05:55 AM
I recently had the pleasure of purchasing a new car. I had agonized for a while, trying to determine if I really wanted to replace my perfectly adequate 5 year old vehicle. It had never let me down. Sure, it had a few dings and scratches, but so do I! New cars are so expensive these days. The car that I had was all paid for and was not very expensive to keep. But, it had lost it's newness. The seats were getting just a bit worn. That new car smell was long gone. And there was going to be new tires … (6 comments)
inventory: Can we offer less?
- 08/14/20 05:59 AM
I have some clients I have been working with that cannot bring themselves to offer full price on a home. In normal times, remember those? Me neither...In normal times I am the first to tell clients I am allergic to full price offers. But these are not normal times. An agent in my office just had a new listing generate 26 offers, many over list price. Now, 26 is more than most, but 4-6 offers on a home is becoming common place. When this happens, low offers will just not make the cut. So, the short answer to the question, Can I offer less? Is … (5 comments)
inventory: Would you buy a car from them?
- 04/11/19 05:33 AM
Here is an interesting scenario...You wake up today and decide this is the day to go buy a car. You have looked around a bit, but you don't really know enough yet about what you want to purchase, so you decide to hit two dealerships today and look at 2 different cars you are interested in. You pull into dealer number 1 and you are greeted by a very nice salesperson who seems attentive and asks you about what you are looking for. You respond with several ideas and ask the salesperson about a specific car. The sales person pulls out a spec … (37 comments)
inventory: Zero for 2...
- 06/15/17 11:34 AM
I have a client looking for a home out and away from the Atlanta Metro area. He sent me 7 homes that he would like to see this Saturday. No problem, I said. So I started setting up our appointments. I called the first agent and she said, nope we are under contract as of today. Rats. So on to the next. The agent says, nope, we will be under contract by this evening. Congrats I say. Rats. So, I have left a message with the next agent and I am awaiting a call back. For those who believe the market is … (2 comments)
inventory: This low inventory is interesting...
- 05/30/17 09:56 AM
Just in case you have not heard...there are not enough homes for sale in this area to meet buyers needs, and its making for some really weird deals. Sometimes I just drop my jaw and look like the guy above. I have sellers that have their home listed at a very reasonable price. Yet every agent that has shown it says, oh, you are too high. I have looked over the comps repeatedly and still believed that we were where we needed to be. Today confirmed it. We received an offer several days ago that was very low compared to our list price. … (2 comments)
inventory: That's all folks!
- 02/14/16 09:47 PM
Ok, stop those rumors that I am out of the business! I am very much in the business, but something is causing an issue. There just are not enough homes for sale right now. Typically, this time of year has the lowest number of homes for sale. For buyers looking this time of year it can be frustrating to not find many homes that meet their needs. For sellers it is just the opposite. There is less competition and the buyers that are out looking now are serious. The Spring market generally relieves this inventory issue as folks decide to list their homes. Along … (3 comments)
inventory: But my friend got a great deal 2 years ago!
- 01/20/16 09:35 PM
The housing market changes quickly. Sometimes hour to hour. I have a client looking for a home where it will be tough to find something based on his needs and ability to buy. Not impossible, but tough. During our first conversation we discussed what he was looking for, got him pre-approved by a lender, and I started looking. My new client told me he had a friend who got a great deal 2 years ago and that's what he wants. Me too. The current local market is now in a sellers market. We have too few sellers being chased by too many buyers. This … (4 comments)
inventory: Inventory is still a problem
- 06/19/13 10:41 PM
Imagine a shopkeeper who owns a shop, but has nothing on the shelves to sell. Imagine going to the grocery store and the bread and milk are all gone. (Typical in our area when there is a call for snow in the winter!) Imagine starting to look for a home and there is nothing for sale in your area. Inventory is still a problem. I remember a time when I was carrying 15 listings at a time. I know a group that was closing 26 homes a month, mostly from their listings. While the market is now looking good for the … (3 comments)
inventory: I need inventory to sell!
- 02/16/12 10:37 PM
I am almost out of listings again. The good news is we moved them either for rent or sale. The bad news is we need more and people are still holding back. It is this way all around the Atlanta Metro area. A year ago or so, inventory was over 120,000 units. Now we are under 40,000. This makes it difficult for Buyers to find what they are looking for, and when they do we are now running into multiple offer scenarios. If you are considering listing your home, now is a really good time to do this. If you would … (5 comments)
inventory: No Inventory! Quick sales!
- 02/13/12 01:48 AM
Can you believe it? The inventory of homes for sale in the Metro Atlanta area is very low. We are just entering the season when more homes begin to flood onto the market, but right now we are at a very low point. What does this mean to Buyers and Sellers? Well, it should mean that Sellers have the ability to strengthen
their pricing. You know, the old supply and demand rule? But I have not personally seen this. There are still too many foreclosures and short sales in the mix for pricing to regain much strength. For Buyers, what … (1 comments)
inventory: Where's the inventory?
- 08/18/11 01:13 AM
While checking on local listings the other day, I came across an interesting fact. The local listings in the Towne Lake area of Woodstock Georgia are about HALF what they typically are. Not price, but quantity of homes listed on the market. People have been reluctant to place their homes on the market while the values of their homes have been so depressed. What this means to local buyers is that the effectiveness of lowball pricing strategies are beginning to fade. Prices for those homes on the market should start firming up and, dare I say it, start to rise. All … (4 comments)
I have, along with many others, been watching the housing market go on a tear for the past 2 years. Low inventory and low mortgage rates have combined to push housing prices up quickly. As a result I have seen potential buyers just give up looking, having been priced out of the market.
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