Patience has always been required when dealing with real estate transactions, but it seems to be more important than ever lately.
With sales up 35.9% and inventory down 20.5% compared to last year at this time, if you are a buyer it takes more patience finding the right home at the right price. It also takes persistence when it seems that all the 'good' homes are already sold or you 'lose' a home to another buyer in multiple offers. In some price ranges it is becoming a seller's market again.
If you are a seller it can take patience getting your home ready to sell…and then waiting for the right buyer to make an offer. Buyers are more selective in their choices relating to price and condition. They really want both, but if they can't get it they expect a good price to compensate for condition.
Whether you are a buyer or a seller it can take patience working with banks, especially because so many transactions are now lender mediated and because of recent changes in the appraisal process. Sometimes it seems like we are always waiting for something…waiting for responses to offers, waiting for short sale approval, waiting for properties to be de-winterized for inspection, waiting for signed documents, waiting for appraisals, waiting for final underwriting approval, waiting for closing, waiting for wired funds…
It is easy to be patient when everything is going as planned. It is harder when we are playing the waiting game and we just have the illusion of control. When we have done all we can, we can only let go and trust that things will unfold as they should…like a plant sitting in the window waiting for the sun to shine.
Sharlene Hensrud, RE/MAX Results - Email – HomesMSP.com
