Looking to buy a home? It’s tough for buyers right now, but a good market for sellers
SPOKANE, Wash. — Looking to buy a home? It’s tough for buyers right now, but a good market for sellers.
Home buyers may have a tough time in the housing market right now. There are more people looking to buy a home than the number of houses that are for sale.
Real Estate Agent Tanya Tyler said it’s been that way for a while and it’s not going to change anytime soon. However, it is a good time to sell your house, even during a busy holiday season.
KaSara Wise has been looking for a home for about a year now. The house she’s renting is getting a little too cramped.
“I have a five-year-old son, and we added another dog to our family and another cat, and then my sister actually moved in with us,” Wise said.
When she was a kid, she remembers driving around with her parents and seeing many ‘For Sale’ signs everywhere. Now, that’s not the case.
“Now, it’s like there’s a handful here,” she said.
When you’re looking for a home, be open to what you find and be flexible. With the housing market right now, you might not find many to buy that you exactly want.
“We are low on inventory, meaning we don’t have many houses,” said Tanya Tyler, a real estate agent with Keller Williams.
She said it’s been like this for the last few years. Homes that cost $250,000 or less are being sold quickly. One thing Tyler sees buyers get shocked about is inventory. When someone wants to buy a home, they think it might be quick to find one, but it’s not.
Wise said it’s been “scary” to see more people moving into the Inland Northwest, especially when fewer homes are for sale and more are looking to buy.
Just last month, the Spokane Association of Realtors had more than 750 homes listed for sale that were under one acre.
Tyler said if realtors were to stop listing homes, in less than a month and a half there would be no homes for people to buy.
She said listing your home now is a good idea, even if it is the holiday season.
“A: Your house looks really fancy during the holidays, and B: There’s more people coming in to visit, their relatives that might be thinking about moving here so you’re, you’ve got more people looking around,” Tyler said.
Looking for a new place to call home might seem scary, because it is a huge investment.
“When you sign your life away, kind of deal… I thought it was going to be overwhelming, but it hasn’t been and that’s been really nice,” Wise said.
It’s best to know what you’re looking for in a home, do your research and be educated.
“Sit down with a lender. Sit down with an agent. Start the ball rolling and it’s amazing. To have a piece of property, to own real estate, that’s like an American dream,” Tyler said.
Tyler says that even if you did buy a home about 10 years or so ago, it’s still a good idea to do your research, because papers and processes could be a little different now.
Make sure to take a careful look at your budget, and know the difference between what you want and what you need.
One piece of advice Wise would give others looking for a home is to be open with their real estate agents.
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