Over the last few years, the real estate market has been a dream for buyers, and a nightmare for sellers. Of course, no issue is ever that cut and dried, that black and white. But buyers have had a few luxuries—high inventory and low prices—that have made being a homebuyer much more appealing than being a home seller. The one luxury that buyers have had that often gets overlooked is one that is quite often undervalued.
Time.
Over the past few years, buyers have had the luxury of being able to “sleep on it” before making an offer on a home they like. In most cases, they could spend a day or two, or even a week, and still come back to find the seller ready and willing to receive their offer.
Times are changing.
In the first few months of this year, I’ve already have several buyers lose a home they wanted because they wanted to take some more time with their decision. Of course, I understand why. Buying a home is a big, big decision. Buyers should consider all of the pros and cons and make sure they’re making the decision that’s right for them.
But these days, it’s becoming increasingly likely that there’s another buyer lurking around out there eyeing the same home you are. Here in northeast Florida, the data show that inventory is shrinking and sales are on the rise. With fewer homes to choose from, and more buyers looking, it means we’re all beginning to lose the one luxury we wish we had more of…time.
As a Realtor®, I never want to come across as pushy or engaging in hard sell tactics. My job is to consult with buyers, help them understand the market factors at play in the particular area or neighborhood in which we’re shopping, and help them make an informed decision that’s right for them. More and more, unfortunately, I’m finding I have to remind buyers of an old adage we last heard back in the days of the real estate bubble…
You snooze, you lose.
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