My Next Home
Selling when you can’t find a new home you want to buy
There is a fear that currently paralyzes home owners’ ability to list their homes for sale, despite their strong desire to make a move. In the current market the sellers hold the upper hand due to low levels of inventory. The Texas Real Estate Center’s Texas Housing Insight Report says, despite the uptick in new construction, the current 3.6 months of inventory is still very low compared to a balanced market level of about 6 months. With so few homes on the market, buyers are forced to compete with each other.
But What If…
We thought for certain that sellers would be jumping on the opportunity to sell their homes and reap the financial reward of competing offers. Surprisingly the opposite occurred: sellers were nervous about finding their next home and delayed selling. What if they listed their home and it sold too fast before they could find another one?
Buyers and Sellers and Bears Oh My (OK Maybe Not Bears…)
Typically, this type of buyer is “not ready” to buy. Historically a seller-buyer would list their home and then wait to look for a new one until the current home was under contract. Now with the decrease in home inventory, real estate professionals have to change their way of thinking. Coming soon listings, contingencies, elongated contracts, and bridge loans help this new breed of buyer-seller fill the gap.
Bringing it Home, Literally
Waco Home Team is ready to assist the buyer-seller in a seller’s market. Many of our clients have found success in shopping for their next home first, and then quickly selling their existing home. Most of them are able to close both on the same day. A few benefit from an extended move out period, or pre-leasing the new home.
Some of the strategies we use to help you succeed in this unique market are
- Custom contract language
- Thorough Evaluation of Buyer’s Negotiating Position
- Packaging and Presentation of the Offer
Educate yourself! Who you work with matters! Ask the Waco Home Team real estate professionals for help.
Still skeptical about finding your next home? Click here to read about finding hidden gems on the market.