Finding a Home For Our Buyer when Real Estate Inventory is Low

By
Real Estate Broker/Owner with F.C.Tucker 1st Team Real Estate

At the end of the day, I lay my head down on the pillow and know I've done the best I can....

 

Sunset over Lake Michigan from the balcony of a Dunescape Condo in Michigan City, Indiana 46360 

 

 

Recently, we represented a repeat buyer wanting to downsize to a condo from their single family home. Simple enough you may think?

 

We listed their home and negotiated an accepted offer.

 

A problem we encountered was that the listing inventory on the MLS in the specific area our buyer desired was very low. The few Condominiums that were for sale did not meet our clients criteria of size and number of bedrooms.

 

The current COVID-19 Pandemic has affected the Real Estate Inventory in NW Indiana in that Home Owners maybe somewhat hesitant to list their property for sale on the market at this time with infection rates still climbing.

 

Economics and Law of supply and demand impact new listings = If properties are in move in condition and priced right, they go under contract quickly, some with multiple offer scenarios.

100 Lake Shore Drive Michigan City Indiana 46360 

A time consuming, yet effective strategy that has worked for us in the past, is to research county records of owners in a certain location.

In this instance, we focused on a specific condo building,  sifting through many pages of parcels to find units that matched our clients desired criteria.  

 

Next steps =  We called condo owners, one by one, to see if any had an interest in cooperating with us to sell their condo to our ready, willing and able buyer!

 

Results = Our 3rd phone call, the response was:

"Who told you that we were thinking of selling ?" 

 

With effort, the rest of the deal all fell into place.

 

Thank God our client didn't have to move twice!

Dunescape Condiminium Amenities Northwest Indiana Lake Front Condos

 

Our Buyer was so very happy that we found the perfect Condo with a View of Lake Michigan AND some great amenities, especially the indoor pool that can be enjoyed year round :)

 

The Day after Closing, our buyer found time in the midst of a move to send these beautiful flowers to us with a note that sums it all up!

 

 

 Finding a Home for our buyer when real estate inventory is low - spouses selling houses northwest indiana real estate

 

Comments (3)

Charles Stallions
Charles Stallions Real Estate Services - Pensacola, FL
800-309-3414 - Pensacola, Pace or Gulf Breeze, Fl.

May only get worse as time goes on at the rate we are headed.

Jul 06, 2020 06:06 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I guess there’s a will and there’s a way. It looks like you’re doing all you can for your clients and that’s to be cheered! :)

Jul 06, 2020 06:07 PM
Realtyna Inc
Realtyna - Newark, DE
Realtyna- MLS RETS Integration software & services

Great blog, Jeff&Grace Safrin. The committment to your clients shines through.

Jul 07, 2020 03:07 AM