I’ve been asked by a number of buyers why it seems like this spring and summer has been so much more difficult to find homes compared to in years past of family members and friends of theirs and it absolutely does seem like sellers are not flooding. The marketplace compared to buyer’s demand and why is that well let’s get into the head of the home seller and figure out what it is that is keeping them from putting. Their homes on the market and generally I find that is around three-fold.
Beverly Hills Home Inventory is Low
Sellers don’t really know that inventory is low they feel like if they put their home on the market there’s a number of other sellers that are out there and that it will be difficult to sell or they won’t get a price that they want and that has been far from the truth low-interest rates and buyer demand have pushed prices that much higher and they’re going to continue to increase as we don’t have enough supply think of it like basic economics supply and demand that’s number one.
Credit and the Lending Requirement
Sellers think that there is still a very difficult credit and the lending requirement that is available or needed for given buyers. When in reality interest rates are really low and credit scores and requirements have been loosened making it easier for buyers to be able to come into the marketplace. There are also 77 million Millennial and Gen wires and Gen Xers that are coming back into the marketplace that wasn’t purchased during the recession which is great for sellers not so great for buyers because they’re competing against more..
Foreclosure or Bank Inventory
We no longer have a foreclosure or Bank inventory which means that sellers don’t have to compete with low-end pricing they basically are in a really good position the only thing that’s really difficult for sellers right now is a lack of information so the more that we can share with those sellers the more that they will put themselves out there in the marketplace to be able to sell and make it easier for buyers basically to afford and purchase a home if you’re ever interested in finding a great seller report of some of the things that you can do to prepare your home for sale to be able to get max price and in the most efficient time please give us a call or send us an email whenever is convenient for you and as always with this video blog if you’re interested in knowing what your home is worth or you’d like to see what other homes are out there coming on the market feel free to click here.
Realtor/ Broker (BRE: 01958545)
Beverly Hills: 424-239-6519