Strategies To Get Through The Low Inventory Craze

Strategies To Get Through the Low Inventory Craze

Never before in recent history, if ever, has there been such a shortage of inventory in the Summerville, SC area, or really anywhere in the nation. Rebounding from the pandemic and hopefully heading into a post-recovery phase, the one industry that not only weathered the COVID storm, but has been going strong since it started, is the real estate market. Whether it is people trying to vacate big cities or because interest rates remain historically low, potential homeowners are flocking to the Summerville area, making it nearly impossible for those looking for single-family mid-range homes to find one. If you are getting to the exhaustion phase of your home search, try to take a breath. The status of Summerville homes for sale can’t last forever. In the interim, these are some strategies that you can try to find the home of your, maybe-not-so dreams.

Look at a Fixer-Upper

Although most people want to move into a move-in-ready home, the reality is that beggars can’t be choosers. It might not be an ideal move right now to remodel a home, but if you have the resources and a little time to spare, there are some advantages to getting a home that needs some work. The first major one is that you get it just as you want it and where you want it. You also get to pick all the appliances and materials, which can sometimes be fun! If you have marked fixer-uppers off of your list, maybe try them again. They might start to look better now that you have tried the move-in-ready route.

New Home Construction

One of the reasons why Summerville is exploding, besides the fact that it is amazing, is because, unlike neighboring Charleston where land is scarce, we still have many communities with property and plots available. When you look in a neighborhood that is still building new homes, you get to choose the floor plan, the appliances, and there are usually amenities. Those who think they don’t want to live in a “neighborhood community” are often shocked to find out how convenient they are and how many things they offer to potential homeowners.

Stay Put and Remodel

Many people who have decided that it is time to move on, do so because they have outgrown, or are potentially ready to outgrow, their current one. Instead of trading up, consider staying put and hiring a contractor to put on the addition that you need. One advantage to staying put is that you don’t have to worry about things like children changing schools or leaving neighbors that are more like family. If you have the room to explore moving up and out, then it is a good idea to at least give it a try. Sure, it might seem like you are going to get a whole lot more for your home in this market, but you will also be paying a whole lot more for a new one. So, it might be a zero-sum scenario.

Hire A Well-Established Realtor

The hardest part about finding a home is often finding it before anyone else does. Realtors don’t have a looking glass any more than anyone else. But they do have connections to the community. If you can find a realtor like those at Sea Turtle Properties who have an established relationship and reputation, then they might be able to put some feelers out. Also, they probably know people and get inside information when empty nesters are thinking about leaving or grandparents are moving further South.

Never before in history has inventory remained historically low along with interest rates, making for a seller’s market-perfect ongoing storm. We know that it is a frustrating position to be in and sympathize with your home buying nightmare. We have established roots in the Summerville area and are always looking to do all that we can to take the stress out of buying or selling a home. Contact us if you need a helping hand during these frustrating times. We might not have a crystal ball, but we do have connections for home building, and other resources available to find Summerville homes for sale.

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