Let’s Re-think the “No Inventory” Mantra for 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 buyers, sellers who want to be buyers, and agents in 2018.

Yes, inventory is lower than in years past, its not exactly “no” inventory.  Just-released HGAR stats show as of end of 2018

  • 1904  single family houses for listed sale
  • 717 coops and condos on the market 

Sure, they’re not all right for you… but can they ALL be really wrong either? 

It’s understood you want what you want. But is your must-have list based in your reality today?  Or are you letting the same things guide you now as they did years ago?

Some people genuinely don’t have any other choice than to wait for something to change. But I see so many who hear ‘no inventory’ and just resign themselves to being stuck and unhappy.  

TRH always seeks to make things happen. If you really want to make a change in 2019, consider.

  • Re-evaluating what you think you must do or must have
  • Plan, and make the space you want

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:

  • Newer technology doesn’t require a complete room for a home office
  • Airbnb gets you off the hook for the 3rd or 4th BR for if/when people visit
  • The Vatican has declared it’s no longer a mortal sin to go out for big family type dinners, or holiday meals 🙂
  • Guilt is a horrible reason to hold onto something. There is joy (and maybe IRS deductions!)  in giving things to others that will use them.

2. 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. 

Instead, get your current place its market-ready best, then get it sold. The best properties have their choice of prospective buyers whose 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 some time in areas you hadn’t considered, and talk it over with your new best friend, your buyer agent.  Trust me, nothing will change by your just looking online at night, home in your bunny slippers.

4. What about a two, or multi-family property? It could be income-producing. It could also be for peace of mind if purchased with, or rented to family.

Your accountant, your buyer agent, and their trusted home professionals can best advise you on the former; and you’re just a few clicks away from perspectives on multi-generational living arrangements: from design, to the practical, to the life-affirming.

5.Consider renting  Buying may feel more secure…if that’s what you know.  But instead of considering this “THE” move, consider it 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 be ready for what comes next.

NEXT: Create the Space You Want

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