Austin Real Estate Guru

Unpacking the mystery of finding a home in a tight market - Savvy Buyer Series Part 2

• Lisa Marie Contaldi • Season 2 • Episode 2

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When the market looks sleepy (or paranoid) this is when you should be out pounding the pavement.   Here are 6 quick methods of finding good inventory including off market 

I'm Lisa Marie Contaldi, and my family has proudly called Austin home since the late 80s. Over the course of my career. I've had the privilege of celebrating 100s of success stories, helping buyers and sellers create memorable housing experiences while reaching their financial goals. 
We've all witnessed the incredible transformation of a rapidly evolving housing market in Austin. With change comes opportunity. So, is it time for your next move? 
Follow me on YouTube at Lis

WE ARE knowledge brokers offering an authentic ongoing conversation that will develop your natural intelligence in real estate and other endeavors. 
http://lisacontaldi.com

Podcast 2 in my savvy buyer series

Unpacking the mystery of finding a home in a tight market 

When the market looks sleepy (or paranoid) this is when you should be out pounding the pavement.   

Remember markets are driven by consumer sentiments ! So what people think matters. Here are some trends that are prevalent in the market

A) When prices are continuing upwardly - you will see more listings but also more tons more offers - People flock to what is selling - When I worked in retail My father used to say people always go into crowded stores vs empty ones.  He was right

B) When Days on the market increasing to 2-4 weeks - this often puts the market to sleep because people react with the thought of WHY? Then they get greedy - Hmmmm, Maybe I’ll wait a bit longer and get a home at a bargain (when really it’s just a temporary shift)

This is when you should make your move.

Friends, ALWAYS Do the opposite of what everyone else does and I promise you will have the best results.

Here are 6 quick methods of finding good inventory including off market

  1. Narrow your search to one geographic area to avoid missed opportunities. If you are new to town start with NORTH, SOUTH, EAST WEST, THEN narrow to one zip code, then to a few neighborhoods in that zip code. 
  2. Drive the neighborhoods of pending listings - where one house sells two will follow.  Do this more than once, and cover an area of about 100 homes (vs just 10 or 20)
  3. Ask your agent to door knock or write a letter to canvas specific areas 
  4. Work from the top down - seek slightly higher priced listings vs low .  Overpriced homes stay on the market longer.  The MOST activity is found with underpriced homes which usually sell CASH
  5. Don’t spend too much time with homes you cannot buy.  Don’t lament over what you can’t you will miss opportunities elsewhere
  6. Shop on Mondays and Tuesdays (when listings that went through the weekend did not sell - sellers are less pompous

Stay tuned for Podcast 3 of 5 in our Be Savvy Buyer Series