Lack of Available Inventory Leaving Buyers Indecisive

By
Real Estate Agent with Long and Foster REALTORS®, Gainesville, VA VA License # 0225089470

Lack of Available Inventory Leaving Buyers Indecisive

The Bristow real estate market is full of buyers looking at the lower end of our single family home price range, which is about $450,000 and lower.  This is usually a great thing for sellers.  There aren't many homes to choose from, so it is easier to push prices higher.

Something interesting happening in the Bristow real estate market, particularly those homes priced below $450K, is that buyers aren't seeing relative value.  That means they can't determine whether or not a home is worth what is being asked because they aren't seeing more than one at a time.  Frustrating for buyers and frustrating for sellers. 

As a top producing Bristow real estate agent, I can tell you that buyers who hesitate end up losing out on home after home.   And what happens in these low inventory markets is that prices keep inching up.  So while you wait to see what a home with a finished basement may run, why not find out what it would cost to finish the basement in the home you have found?

No buyer on a limited budget gets 100% of their wants and desires.  You are lucky to get 80% of them when you are in a low inventory market.  Keep that in mind when shopping.  You may be passing over some excellent opportunities.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Home Buying
Location:
Virginia Prince William County Bristow
Groups:
Bartender, Make it a Double
HyperLocal Neighborhood and Community Posts
City and State Community & Marketing Reports
Tags:
bristow va top producing agent
bristow va homes for sale under 450k

Spam prevention
Show All Comments
Rainer
137,489
Chrissi Chapman Topoleski
Re/Max Real Estate Connections - Haymarket, VA
HOME~There is no place like it!

Wise words! It's a tough market in the Bristow area right now.

Mar 07, 2018 05:34 PM #1
Rainmaker
2,586,241
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Chris Ann Cleland - buyers fear paying to much and in the long run, they end up paying more in higher interest rates ... it's just crazy. Buyers need to trust their agent as their guide. If they don't they will hurt their self in the process. 

Mar 07, 2018 05:46 PM #2
Rainmaker
560,451
JL Boney, III
Coldwell Banker - Columbia, SC
Columbia, SC Real Estate

I have had a few buyers lose out this year for dragging their feet but it's good learning experience. They usually do not hesitate twice.

Mar 08, 2018 06:02 AM #3
Rainmaker
1,967,983
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

I'm currently living this. Have been living this (as a buyer) for over a year now. I can confirm what you say is true, not that you need my confirmation. LOL

We went to an open house last weekend and left with that horrible "OMG, is this the one?" feeling.

Knowing you have to act fast...it was obvious it was going to be a multiple offer situation...is far from pleasant. It's quite stressful.

We pulled the trigger (after returning for a second look in the afternoon with our agent) and our offer was the one accepted.

All goes well with the home inspection next week and this nightmare is finally over for us!

Mar 08, 2018 06:41 AM #4
Rainmaker
1,090,137
Curtis Van Carter
Better Homes & Gardens Wine Country Group - Yountville, CA
Your Napa Valley Broker Extraordinaire

Chris Ann

This fact seems to be nationwide. This is the first time I have every seems this happen and it being so critical everywhere. It has given a bit of pause, cheers cvc

Mar 08, 2018 07:21 AM #5
Rainmaker
2,394,199
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Seeing exactly the same thing happening in my market, Chris Ann. It's a tough time to be a buyer and having to make such a large financial decision in what seems like a split second.

Mar 08, 2018 09:51 AM #6
Rainmaker
2,157,264
Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

Lack of inventory or "slim pickens" in housing is reason to give many buyers pause when it comes to purchasing a home.

Mar 08, 2018 12:53 PM #7
Rainmaker
1,997,258
Elizabeth Weintraub Sacramento Real Estate Agent, Top 1% of Lyon Agents
Lyon Real Estate - Sacramento, CA
Put 40 years of experience to work for you

I've noticed some buyers even think by mistake that they can offer less and still buy the home. They say, "well, it's the only one." Don't know how they get to that rationale. No, when it's the only one, you generally have to pay more than list price.

Mar 09, 2018 06:49 PM #8
Rainmaker
2,883,600
Michael Jacobs
Coldwell Banker Residential Brokerage - Pasadena, CA
Los Angeles Pasadena Area Real Estate 818.516.4393

Hello Chris Ann.  Another reality check for buyers(and sellers too) regarding the current market which is evident in many parts of the country.  Good post.

Mar 13, 2018 10:21 AM #9
Rainmaker
2,571,495
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

That’s really interesting take and it’ll be interesting to see where the market is in six months.

Mar 14, 2018 11:34 PM #10
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
2,935,212

Chris Ann Cleland

Associate Broker, Bristow, VA
Email Me For a Free CMA of Your Home's Value
*
*
*
*
Spam prevention