If you're in the market to buy a new home the best advice right now is to act fast.
It's a tough time for buyers because realtors say there's a high demand for homes but a low inventory of homes for sale. It's great news for the housing industry but it's leaving some potential home buyers disappointed.
Right now instead of homes sitting up for sale for weeks and months they're being sold in the matter of days.
"This home wasn't listed for sale yet," Dr. Lindsay Rhodes said.
Rhodes heard about this four bedroom, 3 bath house in Homewood "coming soon" to the market. She called the realtor on the sign and made a deal. She closes in April.
ERA King realtor Johnny Montgomery says Rhodes got the contract and there were several other offers. It's something happening a lot for Montgomery. He's making contracts before homes are even on the market.
"I've got about three homes already put "coming soon" signs up already getting showing on those homes," he said.
It's a great problem to have for realtors but it's a tough situation for potential buyers.
"We've got more buyers than we got sellers right now. Yes inventory is low, which is great for the seller now because…we have more demand."
The housing market has struggled over the last few years. Now Montgomery says there's finally a sense of urgency again for buyers.
"People have been scared. Also too mortgage companies, banks have loosened purse strings and started giving loans to people normally denied two to four years ago."
But Montgomery says with 3.5 percent interest rates and low inventory buyers have to be ahead the game – like Dr. Rhodes - to get the house they love.
The best advice for home buyers is to find an experienced realtor who knows their industry and knows about listings before the homes come on the market.
Or if you know where you want to live, drive around the neighborhood and look for those "coming soon" signs.
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