Low Real Estate Inventory: What It Means for Homebuyers
Filed under: Real Estate
Timing is everything to optimize the results of your real estate transaction. Not only do you need to consider the timing factors of your family, such as the school calendar or work schedules. But, you also need to think about how the trends in the real estate industry will impact your investment.
Lloyd Mize
What is Low Real Estate Inventory?
Inventory is a hot topic in the real estate market right now. Are there enough homes to go around? There’s no doubt that inventory is low right, which means that home prices are going up and there is more competition for the properties that are listed in the real estate market.
Homeowners are in a great position to sell if they want to optimize the equity that is available. Basic supply and demand principles apply: when the inventory is low, then people are willing to spend more money on the products that are available.
Tips for Home Buyers
If you are preparing to buy a home, low inventory doesn’t mean that it is impossible to find the right property. Instead, you need to be ready to move fast when the right home comes along. An offer needs to be submitted as soon as possible. Also, don’t low-ball the offer when you are competing against other homebuyers who are willing to pay the asking price for the property.
Even when the market trends don’t seem to be favorable, there are always opportunities to find the right property for your family. The key is to choose a good real estate agent to help with your search.
The right real estate agent will have connections in the industry, helping you find properties that might not be listed on the market yet. Your real estate agent can pay attention to the new listings and send new notifications when a property matches your desires.
Whether you are buying or selling a home, you need to enlist the help of a real estate agent in the industry. Lean on the experience of someone who understands the Temecula real estate industry. For more information, talk to Lloyd Mize at The Lloyd Mize Realty Group at (951) 551-1677
