One of the most interesting things about the real estate market in Gwinnett County in 2012 is the critically low number of available inventory homes that are available for sale. Yes, you heard me right. There is so little available homes for sale that Buyers who were "on the fence" and have moved to the buying side are desperate to find the right home.
I was this coming late last year when we started to see a huge influx of potential buyers in November and December. My team was having a challenge finding the right home at the right price and I knew at that time that if inventory levels did not change we could be in for a bigger challenge come spring and summer of 2012.
Year over year Gwinnett is down roughly 35% in homes for sale from 2011. Sounds crazy right? Well yes and no. There are less foreclosed homes coming on the market and traditional sellers still fear (rightly so) that the homes value is in the tank. What this has created is a mini-Sellers market. Yes, prices are down but if you are looking to sell and find that perfect new home the time might be now.
A recent article was posted about this and it is worth sharing: The NEW housing crisis
Look at it this way. You cannot have it both ways when selling and buying a home. It is not realistic to both Sell HIGH and Buy LOW. The math does not make sense. I tell my owners who are looking to sell and buy to price their homes at or below market value to create a sense of urgency in Buyers eyes. If a home is overpriced. It still will not sell and putting a asking price over market value will not generate the buyers needed to get it sold.
Often I am asked to "List the home high and see if we can get any offers" but this does not work. When a buyer sees a home is listed over the price they can afford they typically will not go look at it and for those buyers who can afford the home they will not look either because they will go for a larger home with more upgrades that are listed at or a little over the sellers list price.
Pricing the home properly is the #1 key to selling even in this mini Sellers market.
If you or someone you know may be interested in buying and selling a home touch base with Matt Hermes or a Realtor you trust and sit down and talk about your options. Want to see who Matt Hermes is on YouTube? Click Here