With the reduction in available home inventory, some markets are experiencing what is typically referred to as a “Sellers Market.” This type of market can occur with almost any commodity and is characterized by a shortage of supply resulting in the ability for sellers to raise prices and/or have more control over the conditions of a sale.
In certain areas around Atlanta, we are actually experiencing something close to this type of market. Inventory is at a historically very low level and as a result, buyers are scrambling to find available properties. This frenzy of activity, especially on properties in good condition and in desirable areas, has put sellers in the driver’s seat when it comes to listing and selling real estate.
Hard to Buy, Easy to Sell
This summer, we were pleasantly surprised to see how many of our properties went under contract at or above asking price and usually within a few days of listing. After experiencing this on multiple houses, we came to understand just how lopsided our market had become.
While this can be a great thing for those who have properties to sell, it can be quite frustrating for those looking for something to buy. As a real estate investor, it’s just as important to be able to buy property as it is to sell. As such, many of our local investors have expressed much frustration with the inability to find inventory to buy.
However, for those investors who have good systems in place for finding properties, it’s been an incredible time for reselling properties to owner occupant buyers.
Better Ability to Negotiate
As a seller in this type of market, we’ve also found that we don’t have to be quite as flexible with our price or with the terms of the sale. Whereas a year ago we were bending over backwards …read more