Low Inventory: What does it mean to you?

The Delaware Valley's long and hard winter has taken a toll on our real estate market. Sellers have had plenty of walkways to shovel. Folks considering listing their homes have been hesitant, waiting to see what home prices do when the weather warms up. Many homes that were sitting on the market have sold thanks to a lack of competition. In summary, inventory is quite low, particularly in desirable townships and boroughs. So what does a low inventory mean to you?

If you want to sell your home, it is a great opportunity. There is a pent-up supply of buyers waiting to flood the spring market, and any new listing is sure to get lots of attention. As always, be careful to price your home appropriately- even in a low inventory situation, an overpriced home runs the risk of extended time on the market. In addition, take the steps important to success for any listing: select a good agent, stage your home well, get flattering photos taken, and make your home available for showings. 

If you are a homebuyer, enter the real estate market prepared. Select an agent with whom you feel confident and comfortable. If you are a cash buyer, have your funds in an accessible account. If you are financing your purchase, get a solid pre-approval from a reputable lender, and make sure your down payment funds are readily accessible. When you find the right house, be ready to pounce on it! Your agent should help you draft an offer that will protect your interests AND entice the seller. 

If you are considering putting your home on the market this spring, do not hesitate to contact me- I'm more than happy to prepare a thorough comparative market analysis of your property. And if you are a homebuyer, please be in touch as well! I really enjoy helping people buy and sell real estate!

Michelle Cross Smith, Realtor
Century 21 Alliance 3012 Township Line Rd. Drexel Hill, PA 19026
Office: 610-449-6006 Direct: 610-506-1505
Michelle@Century21.com