The Restaurant Effect: More Choice Means More Opportunity 🍽️🏡
Ever notice how the best restaurants are often right next to other restaurants? That’s because more options attract more customers. The same is true in real estate.
Housing inventory has now returned to pre-pandemic levels for the first time in five years. For buyers, this means more chances to find the perfect home compared to just a year or two ago. For sellers, it’s equally good news—more buyers in the market means more people could be interested in your home.
The Market Isn’t Saturated—It’s the Sweet Spot for Both Sides 📈🤝
After the 2008 Great Recession, homes often sat for a year or more due to oversupply. Builders had produced far more homes than buyers needed, flooding the market.
Today’s reality is the opposite. We still have a housing shortage, so the current supply is far from overwhelming demand. This creates a balanced market where neither side holds all the power—an ideal time to both buy and sell.
How Savvy Buyers and Sellers Gain an Edge 🎯
Many people think price is the only thing worth negotiating. However, skilled buyers and sellers know there are other tools that can tip the scales in their favor:
- Occupancy: Adjusting the move-in or move-out date to match the other party’s preference can make your offer stand out.
- Seller Concessions: Offering to pay some of the buyer’s closing costs or buy down their interest rate often has more impact than lowering the price.
- Contingencies: Removing certain contract contingencies can make your offer more attractive compared to others.
In today’s balanced market, knowledge is power. With the right strategies, you can secure a better deal—whether you’re buying or selling.
📲 Contact me today to discuss how to make the most of this unique market opportunity.