Have you ever attempted to get a slinky to walk down the stairs? Timing and flexibility are key for the spiral toy to make it from one step to the next. And while real estate seems like the last place for timing and flexibility – consider the following:
Motivated buyers writing offers in November had access to motivated sellers willing to move out -if necessary- just prior to Christmas. Other buyers who decided to wait until the after the holidays are finding fewer properties and slightly higher interest rates.
Buyers who are flexible with sellers scrambling to find their next property after the sale are finally able to buy their dream home. Buyers who won’t risk extending closing and/or occupancy dates may be missing out on some great deals.
And let’s face it sellers need to understand timing too. No buyer is going to give you unlimited time to find your next property or move out. If a seller has very unique requirements you need to be prepared to adjust your selling price accordingly. And today’s sellers really need to start the whole selling process by getting a whole house inspection. Fix what needs to be fixed and share the report with potential buyers.
Lots of buyers want to wait until “spring” but what they don’t realize is that the spring market is kicking off now and will be in full swing right after the 1st of January. If you are looking to move in the spring get ready to start your search within the next few weeks.
Right now the inventory of homes for sale is very low in greater Cincinnati with 1500 fewer homes and condos for sale now than in December of 2015.