If you understand how supply and demand drive real estate decisions then you would be amazed about how much “timing” makes a difference in winning or losing. For example, if a market is in a stall period, buyers and sellers can just sit back and watch without having to make any critical commitments.
However, if you want to be a winner in the house-buying game, it is important to pay attention to the statistics on change, and right now the real estate business is heating up for the spring market. The Lowcountry is not in a stall period. If you see a home that you want, be smart and devise a strategy to win that desired house. Inventory is at a continued low, and prices are still strong in our area. Days on the market are much shorter than in years past. In our gated communities, homes coming on the market that are priced properly are selling very quickly. Days on market and pricing matter!
What is the yellow banana story? Well, when you go to the market to buy bananas you want to buy them a little green or bright yellow so they will last longer and will be enjoyed. What you don’t want to do is buy spotted soft bananas that are already ripe as you probably will toss them when you get home or shortly after.
In real estate, if you are a buyer and the market is tight on inventory, you cannot wait for the ideal property deal or hesitate hoping the primary home you are seeking will be on the market next week. Often in this situation, you and your family will have to settle for a second choice home, and your decision to wait will always be questioned. You will most likely be disappointed with your second place house.
Although the country as a whole is presenting a different real estate story, the Lowcountry real estate market continues to stay very strong. There is still room for appreciation in this area, and there are plenty of buyers looking to make this a permanent home. As a motivated purchaser, you need to be in a position to “jump” when you find what you want and not pause to question your decision. Go with your gut and choose the house you love. Get an offer presented, and get the ball rolling.
Don’t be the one who is going to outsmart everyone by waiting or trying to undercut the fair pricing of the property you would like to have. This is the time to find the right property, decide on a fair price, and make your move. Listen to your Realtor, present a strong offer both with price and terms, and land the home of your dreams.
This is not the time to be a spotted banana buyer who goes home with a goose egg or has to settle for second place.
Written by Allison Cobb
The author assumes no responsibility or liability for any errors or emissions in the content of this blog. The information provided on is an “as is” basis with no guarantee of completeness, accuracy, usefulness, or timeliness.
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