Finding the right property in a seller’s real estate market
Property Brothers, Love it or List It and many other popular home reality shows, feature homeowners struggling with the stress of compromising their home must-haves, sacrificing wants to needs against constrained budgets in a seller’s real estate market.
Star renovators, interior designers, and realtors play the lead role in delivering the bad news and good news stories to couples who are far away from common ground. High ratings come from home buyers and homeowners alike who can quickly identify with the stress of real estate reality, yet enjoy the light at the end of the tunnel as a smiling, teary-eyed coupled – their dream home has finally arrived!
Avoid Bidding wars, that have ruled the day
But in our seller’s market, how can you hold back the urge to toss out your dream home ideals, in exchange for a ‘buy now, live with it later’ home search strategy? According to the U.S. Census Bureau, homeownership is at its lowest level since 1965. Bidding wars rule the day, as interest rates remain at historically low levels and buyer sentiment of being priced out of the market while saving for future home ownership, prevails. Erin Carlyle, of Forbes Magazine reflects on our current market noting that, “Bidding wars have become the new normal.”
Connect directly with buyers
So, how can buyers find their dream home in this market? The answer lays in expanding supply by looking beyond what’s listed. Locating properties that match closely to your must-haves and connecting directly with homeowners, before they offer their home for sale to the general public, is the new route to home buyer success.
Make a list
Defining and locating homes that meet your needs is an important step in planning and forever happiness. Create a list of must-haves before you start the home search process. Rulisting.com offers a complete list of must-have considerations, going beyond the traditional “number of bedrooms,” or “number of bathrooms” approach. Price and budget is the natural next consideration as you work your way through your next step of identifying key target neighborhoods Neighborhood criteria like commute, noise, or proximity to landmarks are important to consider within the neighborhood search process.
With RuListing.com you can upload your Wishlist with target areas and your next step is to get to know them. Drive around, adding notes and photos to your Wishlist and, while doing your homework, you may even find a specific house of interest.
Once your Wishlist is populated with your research, it’s time to Post on your favorite unlisted addresses, streets or neighborhoods to let homeowners know you’re interested and ready to connect. RuListing.com offers free Wishlist, Post/Connect services. Plus you can print or have RuListing mail your member letter that advises owners you’ve posted on their address and invites them to connect through RuListing.
Finding the right property in a seller’s market means exploring creative, non-traditional routes to expand market supply by enticing owners of unlisted homes. Direct and easy access to ready buyers, helps to engage homeowners in a conversation that opens supply beyond listed homes and helps buyers find the property of their dreams.