New Home Owners Relaxing on Couch

So You’re Saying There’s a Chance?

Dear Buyers- Do Not Give Up! 🏡

Dumb and Dumber has to be one of the funniest, “don’t-have-to-think” movies ever created. If you are ever on overload and need to zone out and laugh for a couple of hours, I highly recommend it. Jim Carrey just doesn’t want to give up on the love of his life in that movie, and neither should 2021 home buyers. Here’s why:

Forget about national trends where Sellers are getting $200,000 over asking price. This is Pittsburgh people, not California. And while we have had a wild-ride, “over-asking-price” market this spring, with many home sellers getting multiple offers, the first week of June has brought a little easing to the real estate market. A little slower pace, a little more breathing room. And the reason makes perfect sense. A year of COVID restrictions has made approximately 25% of the entire planet go on vacation the day after school let out! I am not kidding! This happens every year at this time, but this year, it has been a rapid exodus like none I have ever experienced. Everyone is turning on their out-of-the-office emails and getting the heck out of dodge. 

Here is why this is important. The buyers that stick with it, keep touring the properties, keep their eyes on the prize, so to speak – well, right now they have a chance. If three out of four buyers are at the beach, you are the last man or woman standing, and those chances may enable you to actually have your offer considered. Maybe even, without 5 other offers to compete against. Now, if the new listing is perfect in every way, including updates and price, it’s still going to get five offers. I am sorry to burst that bubble. But there truly is a little room during the summer months for Buyers to have an excellent chance of being considered for a property. Holidays are even better – July 4th is a great day to buy a house (just saying).

So don’t give up, keep grinding away at Zillow and keep calling and texting to get in to tour those properties. Inventory is still low, but good homes are coming on the market every day, and who knows – one of them might give YOU the chance of a lifetime!

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CoreLogic’s newly released Homeowner Equity Report for the first quarter of 2021 shows U.S. homeowners with mortgages (which account for roughly 62% of all properties) have seen their equity increase by 19.6% year over year, representing a collective equity gain of over $1.9 trillion, and an average gain of $33,400 per borrower, since the first quarter of 2020.

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