It’s a tough market out there for Buyers. Period. Blog ended. Haha kidding. Seriously though, it is a tough market for buyers. Why you ask? One word…Inventory. Or lack there of I guess you’d say. Buyers are searching for homes and Sellers aren’t listing because of the lack of inventory here in the Greater Portland Area of Maine. Thus, my recent experience on the Seller-Side of a transaction. Buyer-Side too, actually. The Seller wanted so badly to move from his current home and buy something in a different town that he could fix up and turn a profit someday. Until then, the new home would be fine enough for him to live in and put his own stamp on until he was ready to one day sell it. He was ready and months went by waiting for his home to sell. He wanted top dollar (don’t we all), so he didn’t mind waiting and the winter passed us all by. Spring arrived and the perfect Buyer came along and made an amazing cash offer on the home. So exciting, right?! Well, yes…if your Seller wants to sell. No, if your Seller has had a change of heart. This Seller had a change of heart. Why you ask? Tough one…maybe a little fear? Uncomfortable? Probably a little (or a lot of both). The big reason? Inventory. He didn’t see anything that he loved and hasn’t seen anything in months. So, instead he said NO to a next-to-full asking price CASH offer. He would rather stay in his home that is tailored to his liking then risk settling for something mediocre. Yes, that hurts indeed. Lesson learned? It doesn’t matter how good an offer on a home may be…If the Seller wants to sell, he will. If he doesn’t…well then, he won’t.
-Lori Lavoie, The L’Heureux Real Estate Group of Keller Williams Realty
Featured Image Credit: http://listingcenter.com/