Low Inventory Driving Higher Prices

If you have been looking for a home to buy, you probably already know availability is scarce. Good properties that are priced right are getting sold within days, not weeks. With so few properties to choose from prices are getting bid up higher and higher and sellers know they have the upper hand.

To make matters worse real estate appraisers seem complicit in the spiraling home prices. They often appraise homes for values that have few if any comparable sales to support the appraisal. This is what happened in the housing bubble and crash of 2008. Did you know that real estate appraisers get a copy of the sales contract before appraising a property? Why do you suppose they need to see what the contracted price is prior to preparing an “unbiased” appraisal? In what other industries that use independent appraisals, do the appraisers see the proposed selling price before assigning a value?

Enough of my soapbox rant. The bottom line is this. If you are serious about buying property, you need to look at new listings the first day they come available on the market. We can get you set up for an automatic notification so that you are the first to be notified as soon as a property matching your criteria  comes on the market. We can immediately schedule time to visit the property and make an offer if you love it. Give us a call today for more information!