The housing and investment market has been rebounding in recent months since the days of the real estate downturn, but buyers have had a true conundrum. The inventory of new homes, resale homes, and all residential properties has been quite low. You know what I mean if you have been wanting to buy a new home, or an investment property, or a vacation home in the redwoods or on the beach…. there have not been a lot of choices. When a property comes on the market that has just about all that you want, you find out that there are several other buyers who have been waiting for their “just right” home, townhome, ranch, or vacation home — just like you. And, Bingo! We have multiple offers! What a frustrating market it has been for everyone.
Good news may be heading our way. Market forecasters are lately showing an improving supply of homes, condominiums, townhomes, and other residential properties, in time for the spring and summer months — traditionally the key real estate “selling season”.
What does this mean for real estate buyers? it may translate to a better selection of homes on the market and more properties coming on the market. Increasing property inventories bring a leveling of offering prices, more choices for qualified buyers and improved purchasing power for buyers in the real estate contract negotiation.
Until now, the lack of residential inventory has been the number one complaint of qualified buyers in a position to buy. A more realistic and balanced real estate market is one that will help normalize the stratospheric home price increases brought about by the bidding wars as buyers chase too few property offerings. Home property inventory has now begun to increase. A more stable, less frantic market, is strong market for buyer opportunity. This is good news for everyone who wants to buy or sell a home, condo , or townhome in the Santa Cruz area.
Be prepared to take advantage of this coming opportunity. Choose a strong Buyers Agent who knows how to advocate for YOU. Work with your agent to be financially ready to offer the strongest offer that you can on the property that you want. If you need financing, we need to have that financial loan worksheet in order, and have you fully qualified.
The Warburton Team is your Buyer Agent Team! Call us to help you make this move into a very positive real estate market !