Canton MA Events and Real Estate

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Where is the Inventory?

Where Is the Inventory?

In the current market, with homes taking longer to sell and with report in the media of a decline in home sales over previous months, you might wonder why I am asking this question.  Sure, there are plenty of homes in the real estate market in Canton MA and Milton MA.  However, within the price range that most first time homebuyers are looking, the "move-in ready" inventory is limited.

old houseI understand that for some Sellers, making an improvement just to sell is not financially possible.  However, for those that in any way have the option, I would highly suggest it.  The majority of buyers are either busy professionals or young families and many just do not have the time to take on a major renovation.  The lower price may make it feasible for them to afford the renovations but the fact is they do not want to do it. 

So, if at all possible, strip the wallpaper, paint the walls, clean the carpets - or better yet pull them up & sand the floors, and by all means, get rid of the paneling!  Perhaps cabinet refacing or new appliances are possible.  Seriously consider trimming your shrubs, planting some flowers or cutting the grass. Ask your REALTOR for advice and consider using a home stager.  I predict your house will sell quicker and closer to your asking price (assuming it is reasonably priced!).

 

 

I have seen many houses sit on the market for months and months while others fly off the market after a few days.  It is those move-in ready homes that are moving.  Buyers are generally willing and able to pay more for a move in ready house, especially one in a good location.

There are buyers out there looking.  The inventory, however, is a bit limited.

I am an Exclusive Buyers Agent and not in the habit of giving advice to home Sellers.  In this case, I have seen one too many homes with paneling, wall-to-wall carpeting and outdated wallpaper and I just felt it needed to be said by someone looking in from the other side!

Whether you are looking for a fixer-upper or a move-in ready home in Canton MA, Milton MA or a surrounding Norfolk County community, contact your Canton MA Buyer Agent to assist with your home search and provide you with 100% buyer representation.

 

 

 
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field. 

 

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Comment balloon 13 commentsChristine Smith • May 26 2011 07:53PM

Comments

Those are great suggestions to sellers to net more from their home.  Locally I have noticed a reduction in inventory too.

Posted by Laura Forman, Your Brevard Premier Property Specialist (RE/MAX AEROSPACE REALTY www.LauraSellsBrevard.com) over 8 years ago

Christine, In my market as well, if the house is affordably prices and in reasonable move-in condition, they are flying off the maarket.  The ones that need work and/or are higher priced are languishing.  It often doesn't take much work to spruce up the house and get it into move-in ready condition but too many sellers just don't get it.

Posted by Lora "Leah" Stern 914-772-4528, Real Estate Salesperson (Coldwell Banker, 170 N Main Street, New City NY 10956) over 8 years ago

Here in San Diego, CA. not only is inventory down but investors our out buying property as if it was free. As a matter of fact 28% of home sold last month were bought all cash and it wasn't just the foreclosures nor the low priced properties either.

Posted by Victor Zuniga (Berkshire Hathaway Home Services California Properties) over 8 years ago

Laura...I wish more sellers would do this.

Leah....we have some with multiple offers & others that just languish.

Victor...cash is king, isn't it?!

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) over 8 years ago

I have also seen the diminished inventory in most price points in my area.  But the media is still screaming that it is getting worse.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) over 8 years ago

Christine--I haven't noticed reduction of inventory here; however, what is on the market are many, many homes that probably would have been sold had they followed your advice.  After $50,000 to $100,000 price reductions it is hard to see why a professional home stager hasn't been called in or all the deferred maintenance attended to. 

Posted by Janet Jones, Home Staging, Interior Redesign Kihei, Maui, Hawaii (Just Your Style Interiors, LLC) over 8 years ago

Christine

 

It's always a matter of perspective isn't it.There may seem like plenty of homes available, but the kind of homes you are talking about are in short supply in a lot of markets. 

Posted by Scott Hayes, Realty Austin, Broker Associate ((512) 786-8300) over 8 years ago

William...I know; buyers who are looking cannot understand the media reports.

Janet...I probably should have named the post where is the GOOD inventory? 

Scott....It most definitely is a matter of perspective.  The good ones in the first tie homebuyer price range are few & far between.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) over 8 years ago

Valerie....you don't like my photo?! :)  Some of them may as well have thatched roofs for the condition they are in!  It might at least add some charm!

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) over 8 years ago

Christine,

In Toronto, there's a shortage of good listings. The market is somewhat balanced but there certainly could be more choice.

Brian

Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) over 8 years ago

Brian....sounds just like it is here.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) over 8 years ago

Christine - While I certainly agree that move-in ready homes that are priced to sell will often go pending in a matter of days.  However, here in Los Angeles & Ventura counties, even the run-down REO's are selling fast too.  As Victor mentioned, our market here in SoCA is innundated with cash investors who are scooping up run-down, dilapidated, dumpy REO's like a kid in a candy store.  First times buyers have a really hard time here trying to buy their first home. 

Posted by Donne Knudsen, CalState Realty Services (Los Angeles & Ventura Counties in CA) over 8 years ago

Thanks Donne....yes, I wasn't talking about cash buyers - the inventory for first time buyers is what is lacking, especially those who want (or need) move in ready homes.

Posted by Christine Smith, Exclusive Buyer Agent & Attorney, Canton, MA (Buyers Brokers Only LLC - www.BuyersBrokersOnly.com) over 8 years ago

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