It’s basic supply and demand from Econ 101. The number of homes for sale relative to the number of buyers, has been doing a steady march down in recent months. That means there are fewer homes available for buyers to choose from and when they do find a good one they need to pull the trigger (if they truly want to become a home owner rather than a home shopper or renter). On the flipside, those home owners who want to be home sellers— well, now is a good time to do just that.
One measure of the relative tightness of the market can be found in the amount of cash it takes to buy a home on contract (ie with seller financing). A couple years ago, deals were occasionally put together with as little as $2 or 3,000. Now, you can fuggedabout doing that. Double the number. $5000 is now the entry point for making a good deal work.
If you’d like to learn more about developing a winning strategy geared to today’s market— call me.
“I work harder to make good things happen!!”