Extremely Limited Inventory

The Real Estate market is booming. There hasn’t been a better time in the history of Real Estate to sell your home. Right now, there’s an extremely limited inventory. There just aren’t enough houses on the market for all of the buyers that we have, who want to buy homes.

I’ve seen it all but right now we have less than a month’s supply of inventory in our Portland market and we’re looking at a 76% absorption rate. Anything 20% or higher is considered a seller’s market and we’re at 76%, which is a sign that the market is hugely in favor of sellers. On Portland’s Westside, Tigard, Beaverton and surrounding areas (97005, 97006, 97007, 97008, 97034, 97035, 97123, 97124, 97140, 97219, 97221, 97223, 97224, 97225, 97229 and more) the vast majority of new listings sell in the first weekend. I’ve never in my 20 plus years in the industry seen it this low. That is insane. So what does that mean to you as a seller? Well, sellers have all of the control. They have the ability to choose the cream of the crop terms and conditions. You can be very selective when choosing an offer to take and remember, don’t be afraid to counter anything that you want that will make the transition, terms and experience meet all of your expectations. You’re in the driver’s seat.

Here are a few things to think about. Timeframes, choose the best timeframe for close of escrow that works for you and you can potentially get extra time after closing before they take possession to allow you to move out. Also shorten up contingency dates for inspections, loan, disclosures and appraisal, or even better take an offer that has no contingencies at all. You could potentially sell your home as-is, which means that if the buyer asks for any repairs or found something wrong with the home, you wouldn’t be obligated to fix it.

There’s quite a few more things to consider and negotiate on your behalf. My team and I would be happy to help and coach you through the entire process because I want you to have the best home selling experience ever and be sure to check out my YouTube channel or my Facebook business page for more tips when selling and don’t forget whether upsizing or downsizing, my service will move you.