Join in on the Lancaster Real Estate Market Shift discussion with Ashley Corbett and Doug Kline
Ashley Corbett: Hey, guys. This is Ashley and Doug here with The Kline Corbett Group a Keller Williams ELITE in Lancaster. And we’re just feeling the need to talk with you guys a little bit about the changing market. Negotiation is coming back.
For the first time in years some sellers are having to negotiate. Ever since COVID hit and exasperated the already hot seller’s market, buyers have practically had to surrender anything that makes their offer less appealing. We’ve seen anywhere from 15 to 30 offers on one property. And things are starting to change. Now that the market is entering a shift, sellers may have less offers in-hand. And pricing your property right now when you put it on the market is absolutely crucial.
Doug Kline: It is. So me, on the buyer’s side, it’s entered, as Ashley said, a whole new phase here, just I’ll say in the last month to six weeks. I work predominantly with buyers. All of a sudden there’s a lot more things for my buyer clients to think about and the opportunities out there, not only price. Oh, we can actually talk about that and negotiate the price.
There’s a thing called Seller’s Assist, which disappeared the last few years, that could come into play. All that’s hinged into days on market. So houses aren’t priced appropriately? Well, people actually can get some money back with Seller’s Assist. Many houses aren’t going under agreement within three, four days, they’ll pay us by the seven or ten.
Now the opportunity comes for people to see multiple houses in one showing afternoon. They have actually time to think about it, they always say, “Hey. Let me sleep on it.” Well, you actually can and you won’t be bumped out of an offer. And some of the folks that maybe needed a little help with their financing can actually have time to explore creative financing with the lenders.
Before, as you know, the last two years it was everything happened so quickly. Unfortunately, some buyers were left out of the possibility of buying a house, just shut out, got frustrated and… But now it’s time, so if you’re that person it is a possibility to get back in the market and find a home.
Ashley Corbett: Maybe you can even get an inspection on that house.
Doug Kline: That was on my list, which I did well to remember seven out of eight. But yes, inspections and actually, now, I have two or three under contract that we’ve actually going through that process.
Ashley Corbett: That’s wild.
Doug Kline: Yeah. Get a few things, that are important to the buyers, fixed.
Ashley Corbett: Yeah. So inspectors, prepare to be busier than you’ve been in the past few years.
Doug Kline: And we can see that too. Before you used to be able to call your inspector up, “Hey. Can you do this tomorrow or the day after?” “Oh. Yeah. Sure.” So now yeah, they’re a week out, so we can see that.
Ashley Corbett: So thanks for listening today. The market is ever changing. We’ll be sure to keep you guys in the loop when that happens. Thanks so much.
If you ever have any questions about the current Real Estate Market in Lancaster, we would love to be of assistance. Our team keeps a daily eye on local statistics in order to give our clients an informed perspective on whether or not it is a good time for them to buy or sell.