You may be familiar with the story of “The Little Dutch Boy.” On his way to school, a little Dutch Boy sees a hole in a dam, and he plugs it with his finger until help comes along. The dam is fixed, and the town is rescued from the devastation that a broken dam can incur. The moral of this story is that if one acts quickly--even with limited time and resources, a disaster can be avoided.

Something similar is happening in the real estate market. It is called “Shadow Inventory.” Shadow inventory are an estimated 47 months supply of discounted properties that are currently being held up in court or by incorrect paperwork. Banks are quickly correcting this paperwork, however, and these discounted properties are about to enter the market. 

What does this mean for you? At present, the average housing market has a 5-6 month housing inventory. As the “shadow inventory” hits the market, the discounted prices are going to force the prices of non-distressed properties down. 

Just like the moral of “The Little Dutch Boy” is to act quickly so that disaster can be avoided, the same is true for selling your house. Selling sooner rather than later will yield a higher price.

Are you still wondering if now is the right time to sell your house? Give us a call today. We are committed to helping you make SMART decisions in the home selling process.

Committed to helping you Buy. Sell. Live. SMART,

Seth & Alyce