It keeps coming up with every buyer client this year so I thought it was time to get it into Fresh Blog.
For several months we have been noticing it here in Portland Metro and now we are seeing it in the other national news as well. There is a shortage of home inventory. The homes that show well and are priced right are selling almost immediately… and often with multiple offers to the seller. The shortage seems to be most prevalent in the lower to mid price ranges.
If you are currently house hunting and you find a good one that you love, don’t delay. Have your REALTOR write the offer immediately and try to lock that seller in. You will have a contractual time period to inspect the home (in Oregon usually 10 business days) and back out if you need to.
Buyers that are slower to decide, or that are shopping without a lender pre-approval letter in hand, are losing out to buyers that are organized and ready to pull the trigger.
Check out this recent Los Angeles Times article: Home Inventory Shortage
and if you can…
Kevin Gorman www.KevinGormanSells.com