Real Estate Buying Season Inventory Shortage?
Not For You.
Typically this time of year jump-starts the “real estate buying season”. This year, everywhere you turn, all you hear about is the real estate buying season shortage. National Association of Realtors chief economist Lawrence Yun said, “The story of the day is on the inventory front”. Similar opinions are on the lips of other economists everywhere, many noting that construction lending continues to be tight for homebuilders, thereby exasperating the situation.
As the economy improves and lowered interest rates come into play, buyer demand has increased in most markets, resulting in a decrease of inventory along with rising prices. Budge Huskey, chief executive of Coldwell Banker Residential Real Estate said, “In many markets around the country we have fundamentally shifted from a buyers’ market to a sellers’ market”.
The landscape can be a bit deceiving, and pretty discouraging, for both new and experienced real estate investors alike, who are not dialed in with the right systems in place.
Yes. You read that right; I said deceiving.
Believe me; there is plenty of available inventory out there and it is real estate that has motivated sellers behind it too. A lot of the time, though, the fact that properties are vacant, or available for sale, is not all that readily apparent.
Most real estate investors drive around endlessly looking for vacant properties, send out hundreds of letters, prospect, network, advertise and scour local data bases trying to find great properties, with motivated sellers, so they can get that dream deal they’ve been seeking since the day they took their first real estate investment course.
Imagine if you had a system in place that could give you easy access to a list of vacant or available properties, as well as the contact information for the owners that are sitting on them.
Imagine if you knew the right way to approach those sellers and also knew the right things to say to get a dialogue going and get those properties under contract.
It doesn’t have to be as much hard work, as it has been in the past, to find motivated sellers and the current real estate inventory shortage does not have to affect you; in fact, the current climate could be the best thing that has happened to your real estate investment business in years.