When There Are Few Houses for Sale Part 1

Although the interest rates have started to come down, there are still few houses  for sale in the current real estate market. If you are having trouble finding a  house you are happy with, consider the following:  

  1. Of course, we will look at the available listings on the MLS first.  

  2. If the market does not have a house you find appealing, we can look through  recently expired listings. Those owners have shown an interest in selling and  some are more flexible if they are paying only one side of the commission.  

  3. You may want to review properties advertised for rent either privately or  through management firms. Some of those owners might consider a sale,  rather than going through another tenant placement.  

  4. We can locate and work with sellers who are selling independently (“For Sale  by Owner”).  

  5. There are owners who would prefer to sell but are waiting for different market  conditions. In a small community, talk to people of your interest in buying and  try the following steps:  

Step One: Visit the neighborhoods that most interest you and seem to have  prices in your ballpark. I can help you to reach the owners and to estimate the  value of their properties.  

Step Two: You can write to the owners of the houses you find most appealing to  see if they would consider selling. This outreach is called a Letter of Interest. Let  me know if you’d like to learn more about this process. The personal connection  

you make with the owner may also open doors to favorable interest rates or other  terms as you will be able to speak directly with the owner to understand their  needs and explain your situation as well.  

I am happy to help with any or all of the 5 methods above. It’s best to review all  possible sources to determine the best opportunity and then negotiate price and  terms, knowing you can refinance later. 

For more ideas, please read the next blog: “When There are Few Houses for Sale 2”.

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Visiting Lenders and Insurance Agents

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When There Are Few Houses For Sale Part 2