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Inventory! Inventory! My Kingdom For Some Inventory

July 24th, 2014

The MPT subscribes to a national post on real estate to try and stay up on things in the industry. Todays post was about the inventory shortage that continues across the country.

Dani and I have witnessed this first hand for pretty much the entire year. It has gotten to the point that if we show a home to a client and they really like it, we have them chain themselves to the front door so no one else can see it. Its rough out there people. I showed a home last week in the Midtown area of Raleigh near North Hills and before we could get out of the driveway there were three other cars pulling up. I thought it was a parade until I saw the looks on the faces of the people in the cars. I recognized that look immediately. They were DESPERATE HOUSE HUNTERS. Realizing our peril I quickly shuffled my buyer into my car and locked all the doors. You cant be too careful you know.

Multiple offers and and full list price or above are becoming the norm and not the exception. Especially in areas like Five Points, Midtown, Cary, Apex and Downtown Raleigh. Oh, and did I mention that the Fall is just around the corner when there will be even more buyers. Yes my MPTers, its not pretty out there and it is getting worse but YOU can help. We need your house. We need you to sell your house. You know you have been thinking about it. You’ve been staring at that flyer for that vacation retreat in Cozumel long enough. Now is the time to take the plunge. Sell that home and head south. The latest local market update from the Raleigh Regional Association of REALTORS ®