Last Spring I listed this home and it flew off the market following some busy open houses over the weekend. We are seeing the same thing this Spring – so what are buyers to do? First off, be realistic about where you want to land on a purchase price and perhaps shop up to $100k lower than that, so if you end up extending to the top of your price range you still feel good about the purchase. Second, consider properties that are not as cute as a bug, such as homes that have been on the market ‘contingent’ or are duplexes which right now don’t seem to be getting the same level of interest from investment buyers. Many older duplexes convert easily back into single family homes and investors are looking at 8-9% interest rates so you will have less competition. Pick a home to buy that doesn’t boast a ton of street appeal and plan to work in an exterior house painting job and perhaps building a new fence and accents into your budget (to get the look of the photo above). You can’t move a home, but you can easily dress it up. Happy Shopping!
