Getting Past”No Inventory”: How to Make Your Move in 2019

Part of this post was published last year; it’s updated/re-published for 2019.

“Opportunity is missed by most people because it’s dressed in overalls and looks like  work”

~Thomas Edison 

No Inventory

“NO INVENTORY!”  cried the buyers…the sellers who want to be buyers…and the agents in 2018.

Well, first it’s not really “no” inventory!  HGAR stats show as of end of 2018

  • Single family homes had 3.6% more new listings, and slightly more (1904)  single family houses on the market than at the end of 2017
  • Co-ops-a very hot market in Westchester County right now had fewer new listings, lots more pending and closed sales, reducing inventory to 414 units
  • Condos maintained: Most markers were down, but only slightly, ending 2018 with 303 units on the market.

OK, they’re not all right for you… but can they all be really wrong either?  You want what you want, but are you basing your wish list on your reality today, or what you did last time?

Some have no other choice than waiting for something to change. But so many more have choices.    

“Change your space, change your life!” is TRH’s mantra.  If you really want to change things up and move forward in 2019, re-evaluate your needs, and explore new options.

Re-Evaluate:

1. Are you being realistic?  Trying to fit all your big house was, all it held into a smaller space with lower taxes? Of course you’re disappointed!!

Re-think your filters:  Better tech doesn’t need a whole room for a home office. It’s acceptable and cool for visitors to use Air BnB, have big occasion meals catered in, or held elsewhere. And guilt is a horrible reason to hold onto something!  There is joy- maybe IRS deductions!- in giving things to others who’ll use them.

2.  If you need to sell to buy STEP AWAY FROM THE ELECTRONICS!  Stop looking for your next new/perfect place! You’re not getting motivated, you’re procrastinating. 

Focus on getting the current place its market-ready best, then getting it sold. The best properties have their choice of prospective buyers.  Their offers contain the best conditions/fewest contingencies. Sellers aren’t waiting on buyers who need to sell.

3. Get a buyers agent, and widen your geographic search.  Spend time in areas you hadn’t considered, and talk it over with your new best friend, your buyer agent.  Nothing changes when it’s just you scrolling around online, at home in your bunny slippers.

4. Think about another kind of property. Where we come from could feel more secure, but this could be the opportunity to change more than your surroundings. START with your accountant, your buyer agent, and their trusted home professionals

  • A two, or multi-family property could produce income AND peace of mind if purchased with, or rented to family.  Here’s some perspectives on multi-generational living: from design, to the practical, to the life-affirming.
  • A smaller co-op or condo here could help you swing another, smaller place in another favorite location. Condos can also be rented out.
  • Renting could be “THE” next place…or just a step in the right direction, real estate sorbet if you will.

The choreography of finding THE new place, then getting your place sold is dicey and pressure filled.                 Give yourself some space and time to experience something different, re-calibrate and figure out what               you really want to do next!

NEXT: New Options

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