- how long do you foresee living in a replacement home? Until the children are out of high school? out of college? indefinitely?
- once high school isn't a concern, would you prefer to be in a different town? a different type of housing?
- is there a financial need/desire to downsize? any certain date you'd like/need to shoot for?
Dorie Dillard CRS GRI ABR - is low inventory a problem in your area, too? It's interesting to me how wide-spread it seems to be, especially in our urban areas.
My son is currently experiencing this. So hard to find something in his price range that isn't either a dump or a multi offer situation.
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Lottie Kendall
San Francisco, CA
Where is your son looking to purchase, Sharon Tara ? It's disheartening, but if he stays the course he'll be victorious.
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Sharon Tara
Portsmouth, NH
New Hampshire. He was under contract once already and it fell through, unsatisfactory inspection. He is currently under contract again waiting for inspection. Could be issues with this one too. We shall see.
Hi Lottie:
These are wonderful options for buyers to consider, depending on their situation and what they are willing to do. The inventory definitely makes it tough and so many homes are selling at and above asking with a lot of competition. But inventory is creeping up slowly.
Jeff
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Lottie Kendall
San Francisco, CA
These are great options for sellers to consider when selling/buying. Limited inventory (or too much inventory) can both make this process tricky.
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Lottie Kendall
San Francisco, CA
Great ideas for buyers/sellers to consider when making a move. Well laid out plan for acheiving their goals, excellent post well done.
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Lottie Kendall
San Francisco, CA
I still get buyers asking for a $350-450k price range for a single family home, Lottie Kendall when the median price is $700-800k.
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Lottie Kendall
San Francisco, CA
Hello Jeff Dowler, CRS - I yearn to see more inventory in what I call "bread and butter" houses, the not-too-expensive ones, the less than pristine ones. No sign of it yet.
Do you remember when bridge financing was an affordable option, Kat Palmiotti? Private money loans are available, but so costly--doesn't work for everyone.
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Kat Palmiotti
Kalispell, MT
Thanks for your warm comments, Nick Vandekar, 610-203-4543 -- can you think of anything I omitted? Still brainstorming here.
So, Bruce Hicks - how do you advise people wanting 10 years ago prices in 2019?
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Bruce Hicks
Honolulu, HI
I simply let them know about the current market, move on to another buyer. Can't spend time on someone who is unrealistic.
Buyer response example: "Oh, I was just thinking you might find us a bargain".
Flexibility, patience and tolerance are essential in this market. Thanks for the thoughtful post.
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Lottie Kendall
San Francisco, CA
It's so important - especially in our markets! - to have a couple of strategies, Plan A & Plan B. You've taken the time to carefully explain the pros and cons of various strategies, so your clients will be better prepared.
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Lottie Kendall
San Francisco, CA
Low inventory in certain price ranges in the highly desireable areas have been the norm in my market (Kansas City metro area) for the past few years now. I do think the market is showing a bit of a slowdown..may be too early to tell though
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Lottie Kendall
San Francisco, CA
Hello M.C. Dwyer - we definitely need various strategies to help buyers be successful when inventory is low. Is that what you're seeing, too, in Santa Cruz?
Lottie, too much demand up there. Nice weather, tech start-ups, nature, restaurants, walkable city, Warriors, and that Flintstones home of course :)
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Lottie Kendall
San Francisco, CA
Hi William Cook - yes, people really do enjoy living here. About the Flinstone house--I actually liked the back yard, visible from I-280, when they added the assortment of metal dinosauer sculptures. Unfortunately, they then painted concrete walls an assortment of bright colors, added numerous garish mushroom-looking stuff; it's now an eyesore in my opinion. I haven't driven around to the front, so can't speak to that.
There's an art to decorating, whether inside or out; knowing when to stop is prime.
Thanks, Ricardo Mello - is lack of inventory something hampering your area also? It seems to be more than just San Francisco and the Silicon Valley.
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