Feb 14, 2018

The Great Inventory Question

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Drew Grossklaus, Sales Director/BIC East Cooper

I often find clients and agents are concerned that they will be unable to find a home in Charleston. The amazing growth in Charleston has led to a competitive market and housing being difficult to find. This lower inventory can also result in higher pricing, which means a buyers’ money buys less of a home than it used to.

The changing factors of the Charleston real estate market leave clients wondering what to do. In the situation of low inventory and higher pricing, a buyer needs to focus on things that are most important to them, and think about items that can be manipulated or postponed.

The first step is to have a good financial understanding of what they can afford. When questioning affordability a buyer might consider purchasing a home that requires renovations or upgrades. Next, clients must take a hard look at their “musts haves” in a particular home. Do they need to be in a certain area for schools? Can they live with three bedrooms versus four? Are they willing to have an older house and do renovations instead of buying a newer home? Identifying the critical factors and then thinking about alternatives can open up many options that may not have been originally considered in the home buying process.

William Means agents can help buyers look at all the possibilities. Thinking outside the box and thinking creatively about what is currently on the market is what make our agents professionals. Our agents have relationships with their clients that are beyond typical. These relationships lead to conversations with clients about homes that are not on the market and whether they may want to sell their home if there is an interested buyer. William Means agents have great resources in architects, contractors, interior designers, and more to look at different properties and figure out ways to make any home special.

If you think that there are no homes on the market that meet your needs, you may just need a William Means agent to help you look.

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