2013 was dubbed by some the year of the move-up buyer, and 2014 is even stronger… creating the year's biggest challenge… getting caught in the middle of a housing logjam!
It has been a long time since we saw the normal exchange of real estate as people sold one home to buy another. Those buyers/sellers are back in full force… however, the shortage of inventory is making it difficult.
It is a little easier for those able to buy without selling their current home first, but when one sale is contingent upon another it can be stressful at least and oftentimes extremely frustrating as buyers compete with other buyers for limited properties for sale and ride the emotional roller coaster of trying to get all the pieces to fit together.
It can be even more challenging to be caught in the middle of a housing domino chain. Take this example…
- People have a townhouse to sell and have selected a house to buy
- The sellers of the house they want to buy have selected another house to buy but the sellers of that house are also buying another house and their buyer must sell before they can buy that house
- The people in the middle with the townhouse to sell have an interested buyer
- Their potential buyer is downsizing, but she must sell her house first… will her buyers have a home to sell before they can buy?
Our interdependency has never been more apparent… and the excitement is even more jubliant when the pieces fall into place and you know the transition is happening just as it should!
Sharlene Hensrud, RE/MAX Results - Email - Twin Cities Realtor