Tight Inventory: What It Means for You
A tight inventory in the housing market means there are more buyers than available houses. The shortage of homes causes prices to rise. This is good for sellers because your equity is rising and your investment is worth more meaning a higher selling price.
If you are a buyer a tight inventory can be a challenge. First time buyers may find themselves priced out the market. Sellers not only look at the amount but also at the terms of the offer, like financing, quick-close, 20% down and more so a buyer needs to make an attractive offer.
Most home sales right now,Â regardlessÂ of price, have many offers and therefore you need a professional to help you navigate and who has the ability to act fast. Your realtor will be able to balance price, condition of home, location and changing market conditions for the best offer. She must be experienced and well-connected and have the tenacity to knock on doors and find properties for you.
It is up to you to do research and understand that adjustment may need to happen. Know what you are willing to compromise on and let your realtor know. Be ready to jump on an opportunity. Darcey and her team can create those kinds of opportunities for you. If you are looking for a realtor with the qualities above, give Edwards Realty Trust a call and let them help you buy or sell a home in a tight inventory market.
Edwards Realty Trust
5193 N.E. Elam Young Parkway, Suite D
Hillsboro, OR 97124