This spring, it hasn’t taken me a very long time to run through the full list of properties available in the lovely Fox Valley area for my select buyers. It is a short list! While home buyers may be stuck with low inventory, home sellers are enjoying the sellers market for the first time in years.
The housing inventory levels for an average market, are about 6 months’s worth of inventory during the year, but there is far less currently available now. Today’s home buyers are seeking great homes with super low mortgage rates, and are willing to compete in bidding wars for the best ones if necessary.
Where are all the houses? Been there, seen that
Adjust your expectations:
Fewer homes on the market can mean it may take longer for you to find the right one or even changing your expectations. A willingness to compromise can go a long way to getting you into the perfect place. Perhaps a finished basement can be skipped but a 3rd bedroom is a must. If you prefer newer homes, but the city is full of turn of the century farmhouses, you may need to reconsider the style. Or buyers may need to expand their search radius, increase their budget, or consider buying something that may need fixing up.
Adjust your search:
Optimize your property search by getting the latest listings emailed to you once, twice or even as they hit the MLS! Homes may be on the market for a day or two and have offers already in place if your search is slowed down. Catching the listings as soon as they are activated can mean previewing them the same day or next day. Consider talking to your agent about the best times to arrange showings for you and work around your schedule so you don’t miss a preview.
Adjust your offer:
An experienced agent, like myself, can help you put together the best offer with a strong, personal letter, a pre-approval mortgage note from a local lender, and properly signed paperwork. Using services to collect electronic signatures under Docu Sign or Adobe Digital Signature, will help get your offer in the same day and avoid any delays. I also can monitor the status of the deal and send regular updates as it progresses. Working out the price is just one part of the real estate transaction.
Did you know?
Fox Valley Homes is full of valuable seller marketing strategies and ideas. In addition to helping owners with selling, Fox Valley Homes offers full broker service for regular listings, rentals, buyers, as well as investors in residential properties across the northern Illinois and Chicago region. No other agent runs an Investor Meetup Group like Fox Valley Homes! We coordinate real estate transactions effectively and retain the full skills and expertise of fully licensed Realtors®, including access to the resources of the local Illinois MLS database.
For more information, about Fox Valley Homes, please contact Jennifer Kinzle, e-PRO, SFR, (630) 854-4360. Email me direct firstname.lastname@example.org.