While most homebuyers don’t think much about the trends of investors, it is worth noting that investors are buying fewer homes across the nation right now. We are seeing this trend in the Charlotte area as well. This means less competition for homes as investors typically have deep pockets and can outbid easily in a bidding war.
The interesting thing is that investors are not selling the homes they have right now. This means that their portion of the marketshare is staying stable. It could also mean fewer homes listed for sale by flippers further reducing the inventory of homes on the market. We will just have to see if this impacts the typically robust spring season.
One trend that we saw in full force during the Covid pandemic was the rise of all-cash offers. There are even many companies that will help you to make an all-cash offer with a financing clause on the back end of the transaction. This has helped many people to be able to compete in the crazy market we saw in 2021 and 2022.
It appears that the trend of all-cash offers winning contracts in multiple-offer situations is going to stay. Sellers really seem to like the flexibility of closing sooner as the process to acquire a new mortgage can be lengthy. Deals can also fall through if the financing conditions are not met. This leaves a seller with the earnest money, but the stigma of relisting their home.
If you are considering an all-cash offer, but you don’t have enough cash on hand, be sure to research your options for a reputable company to help you. We can offer you our advice on companies we have worked with in the past to help you make your decision.
If you are curious about what your home is worth or if it’s a good time for you to buy, give us a call at 803-831-8588. We would love to share our perspective on Lake Wylie and the Charlotte area. You can view current listings and create custom searches on our website here.