Searching For Housing In A Seller's Market
People like Christina Vondenburg have searched for housing for the last two months. She wants a bigger home built in the 1900's. But the search has been difficult.
"You have fewer choices than you think you do. There are plenty of options when you are looking online but again it's gone the next day, so it's frustrating," said Vondenburg.
Brokers said the numbers of listings has decreased since January. While the inventory is low, the demand is strong for housing.
"We are running about a three month supply, meaning if no new listings hit the market then we would be out of things to show our clients within three months," said Mike Kollmansberger, broker.
Kollmansberger said buyers shouldn't wait until the sign pops up in the front yard. Often times, the home is gone before an open house.
If you are a seller, brokers suggest clearing the home and investing money in things like roof, bathroom and kitchen. For buyers getting ready for the spring home buying season, buyers should check their credit score; determine a realistic budget; make a down payment plan; identify a location; gather paperwork; find a realtor; get a pre-approved letter from the bank.