Low Inventory – What Does This Mean?

Low Inventory

I bet you are hearing about low inventory. What does this mean? Hi Everyone, this is Fawn Bertram with Homes by Fawn and Hawaii Life Real Estate.

Every real estate agent you know is shouting, “LOW INVENTORY! LOW INVENTORY!” Maybe so much so that you’ve tuned ’em out or keep thinking, so what? What’s that got to do with me?

Well, let me tell you. The truth is, if you’re a homeowner thinking about selling or a home shopper looking to buy, low inventory means EVERYTHING!

For the Homeowner Looking To Sell:

The time is NOW! Low inventory means not that many homes are for sale, and you’re not going to have to compete with as many homes to attract buyers.

Even with low inventory, set your asking price at market value. Doing so means you’re likely to attract more buyers and possibly set off a lucrative bidding war. You’re going to get a greater return on your investment. Rising prices mean that homes are also gaining value!

For the Home Shopper Looking To Buy:

Time is of the essence when inventory is low. Do everything you can NOW, for example, gather your down payment funds, get pre-approved, have your home ready to sell so when you find your dream home, you can act, and act fast!

Keep your offer as “clean” as possible. Now isn’t the time to pack your offer with contingencies, concessions, closing dates, or repairs.

Beware

Beware of renegade emotions. Whether it’s a competitive bidding war or losing out on another home you just KNEW was the one, fight to keep your emotions in check. Stay patient and stay in the game — the right house will come along at just the right time. Everything happens for a reason.

If you have even have the slightest inkling of selling, DON’T PUT IT OFF any longer. At least speak with an agent who can help you assess the changing market conditions and let you know what you can expect to sell your home for — chances are you’ll be pleasantly surprised!

More information

For more information, visit my Youtube channel with more helpful tips on the home buying and selling process.  If you have any questions or would like to know more about the home buying or home selling process, please reach out.  I would love to help.  I’m Fawn Bertram with Homes by Fawn and Hawaii Life Real Estate. Make it a great home buying and selling day.